Password crackers and key generators have long been the bane of commercial software companies because they allow users to circumvent their protection mechanisms without the need to purchase their software.
As a result, it should come as no surprise that some malware authors prey on this particularly vulnerable group of users.
For instance, SophosLabs analysts encountered a Trojan (Troj/Mdrop-BPE) that came bundled with a password key generator and a worm with IRC backdoor functionality. When run, the Trojan not only drops the password generator crack for Adobe Photoshop CS3 (Troj/Keygen-BI) but as an additional freebie, it potentially turns your computer into a IRC zombie machine (W32/IRCBot-WA) as well.
As they say, if something looks too "good" to be true, it usually is.