Since I administer my own domain, I can have as many email addresses I choose and still have them all redirect to one place. Most people have one email address, and since lots of web sites force you to use your email address to log in (including Myspace unless I’m mistaken). Luckily this is not true anymore for most Banks and stock sites because it’s a major security risk for folks. If you have only one email address then you’re using the same username for several sites. This makes it amazingly easier to crack into all those sites with a password cracker program. Those take time though and people who want to steal your personal data don’t like to waste time.

Phishing scams [Wikipedia] are an online twist on the old trick of calling someone on the phone and pretending to be someone you’re not to get their personal information. What has been [Broadband Reports] happening lately on myspace is that a malicious person will create a page with a fake login box. Hitting the page, some users will think their session timed out, or that they forgot to log in and blithely type in their information. The scam redirects the user someplace and they promptly forget all about it.

The phisher is not interested in hacking your site, or taking over your account to set up a tryst with a 16 year old kid – they want your login information because you probably use the same email address and password for all your other online sites. If they can piece together enough info, they might be able to get into your financial institutions, they’re betting you probably use the same password there too. You will never know this happened until it’s too late.

Set up a couple of spare free email accounts to use for various sites. Change your passwords frequently.