What happens if a private key is compromised ?

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What happens if a private key is compromised ?..

Answer / ramkumar

Private keys must be stored securely, since forgery and
loss of privacy could result from compromise (see Question
4.1.3.7). The measures taken to protect a private key must
be at least equal to the required security of the messages
encrypted with that key. In general, a private key should
never be stored anywhere in plaintext form. The simplest
storage mechanism is to encrypt a private key under a
password and store the result on a disk. However, passwords
are sometimes very easily guessed; when this scheme is
followed, a password should be chosen very carefully since
the security is tied directly to the password.
Storing the encrypted key on a disk that is not accessible
through a computer network, such as a floppy disk or a
local hard disk, will make some attacks more difficult. It
might be best to store the key in a computer that is not
accessible to other users or on removable media the user
can remove and take with her when she has finished using a
particular computer. Private keys may also be stored on
portable hardware, such as a smart card. Users with
extremely high security needs, such as certifying
authorities, should use tamper-resistant devices to protect
their private keys (see Question 4.1.3.13).