SELECT * FROM table;
can be dangerous if you have large tables, with lots of rows.
For example, imagine you have no brain and you stored 5 million images of 2Megabyte each into your table.
If you did a SELECT * FROM table;
that would give a resultset that contains 10 terabytes of data. I doubt your database server nor your webserver would appreciate that :-)
This is an extreme example ofcourse, but if you have large records, the threat reamains.
This does not mean that SELECT * is a no-no, but you should allways think about exactly how much data you will be getting back.