Along with Apple’s FaceTime beta release came a new iTunes Store account security flaw. Now Apple has offered a fix.
According to “Cocoa Touch Apps” (http://cocoatouchapps.com/2010/10/apple-fixes-facetime-security-flaw-server-side/), while people were “poking around” in the FaceTime beta, they noticed that they could easily access their iTunes Store accounts right from the app. In doing so, they’re able to update their account settings without re-entering the iTunes Store password. To make matters worse, the application automatically saves your username and password even if you sign out
“Cocoa Touch Apps” says this is Apple’s “easy … yet annoying fix”:
Go to your User Folder / Library / Preferences and delete com.apple.FaceTime.plist
That will reset the settings for the app and clear out your password.