Facebook has accepted that a bug caused millions of user passwords, some dates back to 2012 and they are to be stored as readable text internally.
Passwords include for both Facebook and Instagram. As per the latest technology news, Facebook claims that the passwords were not accessible outside the company. It basically means that they were accessible to Facebook employees anyway.
Nevertheless, Facebook says there is no confirmation and evidence of employees abusing the loophole (escape) or employees using the passwords improperly.
The company is informing Facebook Lite, Facebook and Instagram users that their password might have exposed. Whether or not you were part amongst those millions of affected users, it is recommended to change the password immediately across the services.