Everything you wanted to know about MELTDOWN and SPECTRE vulnerabilities (in layman language with Q&A)

Meltdown and Spectre exploit critical vulnerabilities in modern processors. These hardware bugs allow programs to steal data which is currently processed on the computer. While programs are typically not permitted to read data from other programs, a malicious program can exploit Meltdown and Spectre to get hold of secrets stored in the memory of other running programs. This might include your passwords 

Meltdown breaks the most fundamental isolation between user applications and the operating system. This attack allows a program to access the memory, and thus also the secrets, of other programs and the operating system.

Spectre breaks the isolation between different applications. It allows an attacker to trick error-free programs, which follow best practices, into leaking their secrets. In fact, the safety checks of said best practices actually increase the attack surface and may make applications more susceptible to Spectre

Check the Q&A section and it might address a few that you might have

https://spectreattack.com/