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That's not entirely correct, in fact, far enough from it to warrant a reply.

Wiping off memory ensure that the attacker doesn't get the past 29329847 logins, only the ones from the moment he compromised the system. Thus, it's quite a win.

There's no easy "all bets are off" escape from properly coding apps so that sensitive data is kept only when needed, for the time needed, never more.

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