QTFairUse6 strips the DRM from iTunes music and allows you to do anything you like with it. The crack will probably do more damage to music sales because iTunes music is more popular than Windows Media files.
The software adapts original code from previous attempts at cracking Apple's DRM and the result is somewhat complicated. It requires the use of Python 2.4 and several other tools and uses the information that is buffered after iTunes/QuickTime decodes the file.
It is also proof that hackers can bring down Apple's stuff if it is economically significant, it is just that Windows generally is a better target.
More here. µ
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