Do authenticaton questions really protect you?

What is your mother's maiden name? It seems like that question has been used as secondary authentication to verify identity since the dawn of time. Over time, the authentication questions have become much more diverse. Sites now ask for things like what city you went to high school in, or who was your favorite teacher, or what was your first car.

Story added 4. September 2012, content source with full text you can find at link above.