Related link: http://securityfocus.com/archive/1/367116/2004-06-24/2004-06-30/0

Came across this posting on BugTraq. Apparently, swap files in Mac OS X (as of 10.3.4) contain user passwords in clear text.

Run the following on your Mac OS X box to see if you can find your passwords stored in clear text:
sudo strings -8 /var/vm/swapfile0 |grep -A 4 -i longname

At first, this ‘vulnerability’ may not seem like such a big deal. After all, the swap files are only readable by root. However, a system administrator should not have it so easy if he or she would want to obtain user passwords. Passwords should never be stored in clear text _anywhere_. A malicious trojan with root privileges can now steal user password in clear text, and many users use same passwords for other accounts, so this is a big deal. In addition, Keychain passwords are also apparently stored in clear text within the swap files (I haven’t tested this). I hope Apple fixes this soon!