According to The Information, Instagram has suffered a serious security leak of its own that could've exposed user's passwords. While Facebook recently had a much more serious problem linked to its "View As" tool that was being actively exploited by... someone, the Instagram issue is linked to its tool that allows users to download a copy of their data.
Facebook notified affected Instagram users that when they utilized the feature, it sent their password in plaintext in the URL. For some reason, these passwords were also stored on Facebook's servers, however the notification said that data has been deleted and the tool was updated so it won't happen now.

The link for this article located at Engadget is no longer available.