According to a leading password recovery software developer Passware, your password could be easily accessed via the direct memory access associated with the Mac’s FireWire port.
It seems that by enabling the “automatic login” feature the FireWire port on your Mac opens the door to unauthorized password recovery. It seems that this is an issue that has plagued Snow Leopard as well, but as it stands it does not look like there is any fix for it, apart from disabling “automatic login” and spending that extra second or two typing in your password.