Hmmm... That's true. I didn't think of it that way. If one of them gets comprimised, chances are that both could be.
As for the validation before storing in the db, yup. I do that too. I check lengths and the type of info entered into the form, then I set a variable equal to the $_POST variable passed thru. I then verify it using eregi(). I also use trim(), strip_tags(), etc. And only after it passes all these checks do I actually store the info in the db. But the book suggested that just to be on the safe side, to also then verify the info when it's pulled out of the db but before displaying it. But after hearing your argument, I guess it just seems like overkill.