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How Dropbox securely stores your passwords - Dropbox
https://dropbox.tech/security/how-dropbox-securely-stores-your-passwords
“It’s universally acknowledged that it’s a bad idea to store plain-text passwords. If a database containing plain-text passwords is compromised, user accounts are in immediate danger. For this reason, as early as 1976, the industry standardized on storing passwords using secure, one-way hashing...” (from the page’s text)
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