The e-mail account of Sarah Palin, vice-president elect was hacked in no time. All that was needed was the password recovery feature of the yahoo account and some searching in wikipedia and google.
the hacker simply reset Palin’s password using her birthdate, ZIP code and information about where she met her spouse — the security question on her Yahoo account, which was answered (Wasilla High) by a simple Google search.
You can see the damage done on WikiLeaks
You can read more about how the account was hacked here
What we can learn from this?
Security questions suck, there is nothing more important than a good password. Here you can read about choosing and remembering a good password
You don’t need to access a Wikipedia page about someone to get this kind of information. If someone who knows you personally has malicious intent, tidbits about how you met your significant other are easy to come by.