[url]http://news.cnet.com/8301-13578_3-57595202-38/feds-put-heat-on-web-firms-for-master-encryption-keys/[/url]
tl;dr
When you use HTTP, everything your browser sends over the network is unencrypted; it is plain text which anyone can read if they are monitoring the link. When you use HTTPS, your browser and the web server encrypts plain text into ciphertext so if anyone is watching, all they see is gibberish. To decrypt the gibberish back to something that's readable, they need the [[url=http://en.wikipedia.org/wiki/Public-key_cryptography]private[/url]] encryption key, which only the web server should have. If a third party, like the NSA or FBI, is able to get a copy of the key and is able to monitor the network, they can decrypt the data as well. Meaning, everything you transmit is now readable to them.
Considering how much you rely on this technology, even unknowingly, this is something you should definitely be worried about.
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I can sort-of why people freak out over the NSA watching us, but what about the companies who have that information already? Think about the kind of information Google has about you: everything you've searched (duh), everywhere you've been on the internet (if you use Chrome), all the information in your Google account (obviously, but it is used for a lot of stuff, and everything you do carries metadata), and basically anything you do on your phone (if you have an Android device). they aren't held to the same kind of restrictions that the Government is, in regards to what info they can gather, and what they do with it, and the government has to request this info from them in the first place. Why are people getting mad at the government when private companies go further than the government is allowed?