For those that user Google Chrome and store their passwords within chrome, will today learn that your passwords are not encyrpted instead just stored as text, meaning if someone had access to your machine they could find out your passwords to pretty much everything unlike other browsers that use some degree of encryption.
Justin Schuh, Google's head of Chrome Security, clarified why Google doesn't secure stored passwords, stating that it does not want "to provide users with a false sense of security and encourage risky behavior".