2. Never confuse "secure" with "securable"--that is, "potentially secure".
The main point is that a user-enterable password hint and response are more secure than choosing from a list of questions, with a corresponding pre-chosen list of answers.
That should be:
The main point is that a user-enterable password hint and response are more securable than choosing from a list of questions, with a corresponding pre-chosen list of answers.
The difference is that most users will still choose easily-guessable questions and answers. You and I may not, but we're exceptional people. ;)