Probably, but I can't say for sure, as we don't use them. I think it's important to offer customers access to their order history as well as the option to change their shipping address, so we require account creation on our sites. Those (few, in our opinion) potential customers who won't buy from us if they have to create an account ? Well, OK, see you around.

As far as any liability associated with storing customer names and addresses, I think it makes sense to realize that one can glean that same information from a telephone book. Not exactly top-secret high security information.

I'll offer my two cents worth of advice, for what it's worth: stop obsessing over remotely possible liability concerns and start building your sites. You have to realize that if one of your customers is surfing your website while driving, loses control and runs over a nun, the nun's family can sue you. Stupid and ridiculous, yes, but possible and there's absolutely nothing you can do to prevent it before the fact. Relax and get down to business.