Elcomsoft, a Russia-based company that specializes in password cracking, has released their latest version of Password Breaker, which recovers passwords stored in iOS4 devices.
The software, according to Elcomsoft, gives investigators forensic access to passwords that are stored in these devices along with websites, third-party software and email accounts without altering the phone's content. When recovered, a user can examine the data and export it to XML or plain text.
Here is a short bit of detailed information by Elcomsoft:
In Apple iPhone devices, passwords to email accounts, Web sites, and certain third-party software are stored securely in keychains that are encrypted with hardware keys unique to each individual device. Prior to the release of iOS 4, keychains remained encrypted with a device-specific key even when exported to an off-line backup file. With iOS 4 this is not necessarily the case.
The software is available in a Home Edition for $79 and a Professional Edition for $199.