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Some Indian security engineers at Black Hat demonstrated some software that boots a computer running Vista and allows you to modify memory contents on-the-fly; enabling you to run any sort of code with kernel privileges.
This was touted as Microsoft's biggest security improvement in Vista, in which software first had to be signed, then memory content would be shuffled around so that outside programs theoretically couldn't access specific data from a specific memory location.
Now it's been cracked.
"…I contend that we are both atheists. I just believe in one fewer god than
you do. When you understand why you dismiss all the other possible gods,
you will understand why I dismiss yours." - Stephen F. Roberts