In addition, SRP exchanges a cryptographically-strong secret as a byproduct of successful authentication, which enables the two parties to communicate securely. Many password authentication solutions claim to solve this exact problem, and new ones are constantly being proposed.
Attackers have access to a large dictionary of commonly used passwords.
Attackers can eavesdrop on all communications between client and server. Attackers can intercept, modify, and forge arbitrary messages between client and server. A mutually trusted third party is not available. Technical details of the actual protocol design are available from this site. It is thus fitting that the Internet at large can benefit from the fruits of this endeavor.