Multiple vulnerabilities have been identified in Winamp, which could be exploited by remote attackers to take complete control of the affected system.
The first flaw is due to a buffer overflow error when processing a specially crafted playlist containing an overly long media filename, which could be exploited by remote attackers to compromise a vulnerable system via a specially crafted playlist.
The second issue is due to a buffer overflow error when processing a playlist (.m3u) with an overly long filename, which could be exploited by remote attackers to execute arbitrary commands and take complete control of an affected system via a specially crafted web page.
Read more here.