thelinuxlink.net

http://www.piotrbania.com/all/kon-boot/

So what do you guys think of this? Pretty interesting. Although I will add that if you have physical access to the system to begin with you're already compromised. Still, this can be a problem. I wonder how they would block whatever was done?

You do not need that cd to do that, any linux cd allows one to access as root.
I doubt this software can get passed an encrypted file system. Kwallet or Gnome Keyring are also good measures against this.