Today’s simple username/password system is a single-factor authentication mechanism—your credentials are the only information necessary. When an evildoer has that information, whether it was stolen with a keylogger or a “phishing” email, you’re screwed.
Are you being watched? Between the Feds conducting warrant-less wiretaps and companies monitoring their employees’ web-surfing habits, the notion of privacy is as quaint as a PS/2 port. The Stealth Surfer II can’t help with your phone conversations, but it will cover your online tracks—at least most of them.