I really like the distributed authorization of the Drupal system. But it does raise a security issue for me. It seems that it would be trivial for a malevolent web owner to hack the drupal script so that he can collect my username and password. usually this wouldn't be a problem. However, with the drupal system, if I login using my normal account from my own Drupal website username and password he could then log into my website and have full privileges of my account.
My suggestion would be to add a simple setting that would let me use the password for an account with lesser privileges, but use my normal login name. Sort of an "account alias" setting.
Therefore when I log in on my home site I would use my administrator password and get full administrator privileges. However, when I log in on "foreign" drupal sites I would still use my normal login name, but I would use a password for my lesser privilege account. (Obviously if I login into my own site with the lesser privilege password, I would actually be logging into the account with lesser privileges and therefore limit the damage that could occur.)