Lost/corrupt password file?

["Paul S" <pts@xxxxxxxxxxx>]

Had a strange problem after a Windows update the other night - when I  
restarted Opera it asked me to create a new master password, I had already  
created one a few weeks earlier. Then I noticed that my email accounts  
weren't working any more.

Eventually after a couple of days I realised that ALL my saved Wand  
passwords had vanished (including the POP3 server email passwords...) I  
had to re-add my email passwords before the accounts started working  
again. The strange thing was there were no "incorrect password" error  
messages, they just stopped working.

Could this be a corrupt profile caused by the update?

I'm using Vista BTW.

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