Security researchers have found serious vulnerabilities in chips made by Intel and other companies that if exploited could leave passwords and other sensitive data exposed."Several researchers, including a member of Google's Project Zero team, found that a design technique used in chips from Intel, Arm and others could allow hackers to access data from the memory on your device. The problem impacts processors going back more than two decades and could let hackers access passwords, encryption keys or sensitive information open in applications," according to CNET.The discovery comes shortly after the chipmaker said it was working on a patch.In a statement released Wednesday, Intel acknowledged the problem, saying that it is "working closely with many other technology companies, including AMD, ARM Holdings and several operating system vendors, to develop an industry-wide approach to resolve this issue promptly and constructively. Intel has begun providing software and firmware updates to mitigate these exploits."Wired explains that the bug "... allows low-privilege processes to access memory in the computer's kernel, the machine's most privileged inner sanctum. Theoretical attacks that exploit that bug, based on quirks in shortcuts Intel has implemented for faster processing, could allow malicious software to spy deeply into other processes and data on the target computer or smartphone."According to The Associated Press: