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It actually is. Cookie stealing can be done with a simple Javascript injection (e.g. cross-site scripting), while IP address spoofing is much harder. Forging the source address of an IP packet is easy, but that only lets you do UDP "fire-and-forget" attacks and half-open TCP SYN attacks. Logging in to a website requires a TCP three-way handshake, which means that packets sent by the server to the source address need to reach your machine. In practice, this requires you to either be on the same subnet (and possibly the same network switch) as your intended victim, or it requires you to be able to announce routing information to the Internet at large.
Originally Posted by TonyV
It's actually not. I don't want to go into a lecture about hacking, but if someone has enough access to your computer to steal your session cookie, they have enough access to spoof your IP address. (Or worst-case scenario, actually run a hidden web client on your machine using your legitimate IP address.)
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