OWASP says:
\"C library functions such as strcpy (), strcat (), sprintf () and vsprintf () operate on null terminated strings and perform no bou
Yes, it is mostly a matter of buffer overflows. However, those are quite serious business nowdays, since buffer overflows are the prime attack vector used by system crackers to circumvent software or system security. If you expose something like this to user input, there's a very good chance you are handing the keys to your program (or even your computer itself) to the crackers.
From OWASP's perspective, let's pretend we are writing a web server, and we use sprintf to parse the input that a browser passes us.
Now let's suppose someone malicious out there passes our web browser a string far larger than will fit in the buffer we chose. His extra data will instead overwrite nearby data. If he makes it large enough, some of his data will get copied over the webserver's instructions rather than its data. Now he can get our webserver to execute his code.