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WordPress Hacking Increasing?

Recently, there have been more reports than normal of people having their blogs hacked. Some Splashpress Media blogs were effected, but only in so much that spam code was added to the entries, no personal data was accessed. Now I see that Vandelay Website Design’s blog has also been hacked. Is this all due to not-updating, or could there be other security concerns?
WordPress users, especially corporate and blog network users have to become more vigilant about making sure their WordPress blogs are up to date, their database and files are backed up, and that their file permissions are set correctly.
If anyone has any other security tips for WordPress users, please comment below. A security resource should be put together that goes above and beyond what I have already listed here.