Looking at this question the OWASP WebGoat project looks like a great way to learn about web security. Although the principles will equally to .NET applications I would prefer to use a .NET based application. Does anybody know of a suitable .NET alternative?
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http://www.foundstone.com/us/resources-free-tools.asp
At this website, you can find multiple website simulations call Hacme something. The simulation you are looking for is Hacme Bank.
Hacme Travel is in C++
Hacme Bank is in .NET
Hacme Shipping is in ColdFusion
Hacme Casino is in Ruby on Rails
Hacme Book is in Java J2EE