Storing or emailing plaintext passwords poses significant security risks, as it makes sensitive information easily accessible to hackers and increases vulnerabilities, especially if databases are compromised or emails intercepted. CU Boulder and other organizations still engage in this risky practice, jeopardizing user data regardless of password complexity. Best practices to mitigate these risks include hashing passwords with strong algorithms like bcrypt, avoiding plaintext password emails by using secure password reset links, implementing multi-factor authentication for added security, and allowing users to set their own passwords rather than sending temporary ones via email. FusionAuth offers a flexible and secure Customer Identity and Access Management solution that includes features like password hashing and multi-factor authentication, aiming to enhance security while being free for unlimited users.