A specially crafted URL could be requested that would allow an attacker to bypass a security check to verify a user requested a password reset. As a result, the first account without a key in the database (usually the admin account) would have its password reset and a new password would be emailed to the account owner. This doesn’t allow remote access, but it is very annoying. /src
If you’ve been thinking about upgrading but haven’t gotten around to it yet, now would be a really good time. WordPress 2.8.4 is highly recommended for all users of WordPress as this version is a security release which fixes all known problems. Available for download here.