On a whim, I signed up for an OpenID at myopenid.com a few weeks ago. It seems like a great idea and I’ve love to be a part of the movement. Since then, several large sites, such as Livejournal, have added OpenID login support. Most recently, Digg has announced plans to support the system in the near future.
OpenID is a system that lets you set up your personal information in one place. Then, when you need to log into an OpenID enabled site, you feed the site your OpenID url. After a quick authorization process, the site pulls all of your data from your OpenID page. You can find out more about OpenID at http://openid.net/.
I did some more digging, and found out that you can set it up so that you can use an OpenID url on your own domain, without hosting your own OpenID server. So myid.domain.com can point to your credentials. Find out how to do that here: http://www.openidenabled.com/openid/use-your-own-url-as-an-openid