The document discusses several common myths and facts regarding application security. It begins by explaining why application security is important for risk management and protecting assets, noting that most applications lack sufficient protection. It then debunks several myths, such as thinking that using SSL or login screens alone makes an application secure, or that frameworks or ORMs prevent all security issues. The document emphasizes that security is an ongoing process of thinking like attackers to identify vulnerabilities. It provides tips like compartmentalizing code and employing defense in depth with multiple security layers.