A major security hole was discovered today that lets nefarious people reset your Apple ID password by just using your name and date of birth. With your Apple ID login and password, someone can make unauthorized purchases from iTunes or, worst case, find your location and/or completely wipe out your phone using Find My iPhone. Anyone with enough time on their hands can figure out your email address and DOB so this is a very serious security issue.
You can prevent a hacker from taking advantage of this security hole by enabling two-step verification for your Apple ID. It provides an added layer of protection for your account and you only have to do it once. Apple has posted a how to page to get this set up. I suggest everyone who has an Apple ID do it now.