Well, What I do for authentication in my scripts is to store the IP and a randomly generated ID, I then do a search on both...
Like Griffon said, there are a lot of companies today that have 1 WAN IP and many internal LAN ip's that are wrapped over the WAN IP using NAT by software or with a router.. and with the advent of broadband connectivity (ADSL, CABLE), more and more companies are doing this... so its ok to use the IP, but ONLY if you use it in conjunction with other values.