Two major flaws in computer chips could leave a huge number of computers and smartphones vulnerable to security concerns, researchers revealed Wednesday.
And a U.S. government-backed body warned that the chips themselves need to be replaced to completely fix the problems.

The flaws could allow an attacker to read sensitive data stored in the memory, like passwords, or look at what tabs someone has open on their computer, researchers found. Daniel Gruss, a researcher from Graz University of Technology who helped identify the flaw, said it may be difficult to execute an attack, but billions of devices were impacted.

Called Meltdown and Spectre, the flaws exist in processors, a building block of computers that acts as the brain. Modern processors are designed to perform something called "speculative execution." That means they predict what tasks they will be asked to execute and rapidly access multiple areas of memory at the same time.

That data is supposed to be protected and isolated, but researchers discovered that in some cases, the information can be exposed while the processor queues it up.
Researchers say almost every computing system -- desktops, laptops, smartphones, and cloud servers -- is affected by the Spectre bug. Meltdown appears to be specific to Intel (INTC) chips.