Today Sony Computer Entertainment have released an update about the Playstation Network outage and security issue.

Todays update took care to clarify information about how the passwords were stored, there were reports that the passwords were unencrypted and on plain text files. The statement says the passwords were in fact encrypted using a cryptographic hash function.

The update also addresses reports that a group tried to sell credit card details back to Sony where the writer of the post the Head of Communications of SCE stated he had heard no reports on such an event happening.

The final part of the statement was to remind people that Sony will not contact PSN users for personal information which includes but not limited to credit card numbers, social security numbers etc.

Also they would like to remind users to change their PSN and Qriocity passwords when they come back online.

Source: Playstation Blog