I've come across this Blog: http://craftlingscosycorner.blogspot.com/2008/08/10k-blog-candy.html - the Blog of Chris, a lady with a mission. Chris HATES word verification :).
What is it and why should it become extinct? For all the info, go to Chris's Blog and read what she has to say. But, in a nutshell, WV is where you have to read a random, jumbled series of letters and sometimes numbers and enter them before you can join an internet group or leave a comment on a Blog. It's there to avoid mass postings of Spam by automated programmes - humans can see the word and solve its puzzle, but computers can't.
Trouble is, it takes time to do this each time you leave a comment. It can also drive people to distraction figuring out the pesky WV. The alternative safety net for your Blog is to opt for comment moderation instead of WV. This means you get a message via email each time a comment is left, and can approve the comment - or not.
As a bribe to get bloggers to veto WV, Chris is offering a huge Crafting Blog Candy. The draw is 15 September and your entries in the draw depend on what you do about WV.