Password theft is a serious problem. And with the iPhone gaining more support in the enterprise scene, people have begun taking a more serious look at the security of the device. And so some reports have surfaced that thieves can extract and decrypt passwords stored in your iPhone. What’s more, they can do it in less than 6 minutes.
That means they can get things like your Gmail login, corporate VPN, home Wi-Fi, MS Exchange details and more, using a method that involves jailbreaking the phone and accessing the data. You should install the Find My iPhone app to remotely wipe your phone in case it gets stolen.