Anatomy of a hack: How crackers ransack passwords like "qeadzcwrsfxv1331"
In March, readers followed along as Nate Anderson, Ars deputy editor and a self-admitted newbie to password cracking, downloaded a list of more than 16,000 cryptographically hashed passcodes. Within a few hours, he deciphered almost half of them. The moral of the story: if a reporter with zero training in the ancient art of password cracking can achieve such results, imagine what more seasoned attackers can do.
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Story added 28. May 2013, content source with full text you can find at link above.