Reminds me of a recent sensational news story in my country... Slovakia's largest entertainment portal, azet.sk, that strives to compete with Facebook here and welcomes about half a million visitors per day, was hacked by the well-known Slovak hacker Igigi, who managed to get hold of dozens of thousands of user passwords, including that of the management, and he published the managers' passwords in his blog... The CEO's password was, in fact, imaprick.
Azet.sk has been likewise criticized now for the insufficient length of the user passwords it allows, as well as for not demanding from its users to select difficult enough passwords.