Safety/Personal info

[Uscalus Storm]

So I'm like 2 weeks into this whole smart phone/phone internet thing (surprising for a 23 yr old). I hadn't thought of this until i downloaded the paypal app, and enabled debugging and bluetooth on. I started getting messages saying people may be able to access personal info.

What I'm looking for is how much safety do i have on my phone and using apps such as paypal, or signing onto bank accounts through the browser.
The smart phones are wonderful but one big reason for me getting one was to help run my business better. This includes a lot of private info.

Any help would be wonderful

[Uscalus Storm]

An exmaple would be like the alternate kb for the droid. It strictly says it can record anything typed using it. Does the app creator really have the ability to view that info?