Stored passwords on the iPhone can be easily retrieved

When people talk about the iPhone, rarely will you ever hear anybody call it “secure” and there’s a very good reason behind it. Apple never really markets the iPhone as a secure device, and there are hardly any options for increasing the phone’s security built-in to the device itself. Most of the time this isn’t a problem as iPhones aren’t really used as enterprise devices for accessing secure data, that job has been left to the BlackBerry. But with the iPhone slowly overtaking the BlackBerry in the enterprise sector, the need for security has been increasing. And now, some folks have uncovered a way to easily extract and decrypt passwords – all in less than 6 minutes. Information such as your Gmail login, corporate VPN, home WiFi and MS Exchange details can be accessed through this method, and it isn’t pretty. Until Apple rectifies this situation, losing your iPhone could lead to serious repercussions. Hit the break to watch a video of how this system works (they basically jailbreak the phone and gain access to your files) and get a little worried. As for now, the best solution would be to use a service like MobileMe to wipe your iPhone as soon as it gets stolen. You never know what the thief might do with your phone.