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The biggest issue is with phishing emails. I've known people who target people they want to mess with and send emails from, for example, Yahoo Mail asking to verify their email address again by going to a webpage and entering their username and password. This is the most common form of how people's email box and profiles at social networking sites get hacked into.
Just remember, the majority of sites out there will NEVER ask you to verify your username or password. Most sites will verify your email address but it'll give you a link to click on in the email and verify it automatically without having you enter any username or password to verify it.
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