is having globals on simply openning valriables up to be defined by anyone,
That's one problem...
or is there something else to consider like them being able to dump all your variables somehow?
Well, it depends on how the code is written. If your code relies on some control variables (like $authenticated in the previous example), then the user could exploit that. If your code has something like
if ($debug) {
print_r($$varName);
}
Then with register_globals on, someone could do
script.php?debug=1&varName=GLOBALS
and it would do a var dump 🙂
Another related problem with register_globals on is that you don't know where your variables are coming from. That's why there's $GET, $POST, $COOKIE, $SESSION, etc, so that the coder can get the right value from the right source.
Diego