The real-world implications are one of the world's leading password cracking projects is able to test candidate password guesses 50% more efficiently than they

The real-world implications are one of the world's leading password cracking projects is able to test candidate password guesses 50% more efficiently than they would have otherwise. This amounts to the loss of almost exactly 1 bit of security. Yes, really. The first letter of my password is lowercase, not uppercase. There, that's how much it matters. 1 bit.