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RE: First post... testing the waters.
The problem with a password recovery system, is that your password is really your private key. The only solution would be for SteemIt to store your private key, as it's currently only stored on your local computer. That way, even if SteemIt gets hacked, your Steem account won't be hacked.
Thanks for the explanation! It makes sense now! I'm keeping my "private key" passwrod secure off my computer now.