In older versions of WordPress, the first user account was always named admin. This made it relatively easy for hackers to try to crack the password on the account. As of version 3.0, you can choose your username during the installation process. This cuts down on the scale of the problem, but it doesn't mitigate it entirely. You might still want to lock down your login screens. For even more security, you could force the login process to take place over SSL, thus encrypting your password transmissions. You could even conduct all your administrative tasks over SSL.
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