Facebook: Millions of passwords compromised due to bug

In a shocking turn of events, Facebook has acknowledged that the passwords of millions of its users are stored in plain text in its internal platform.  This happened due to a bug in the password management system.  Usually, passwords are stored securely through a cryptographic process (technically known as hashing).  

Since these passwords are in readable form due to the bug, the privacy of the users has been breached.   It’s believed that Facebook’s 20,000 employees have had access to about 600 million user passwords.

As a precautionary measure, many users are changing their Facebook and Instagram passwords.