Authentication is not required to exploit this vulnerability. The specific flaw exists within the ov.dll module which is loaded by the webappmon.exe CGI program. This DLL defines a function execvp_nc which unsafely concatenates a controllable command string into a statically allocated stack buffer. By supplying overly large values to variables passed through an HTTP request a strcat_new can be made to overflow this buffer. An attacker can leverage this to execute arbitrary code under the context of the user running the webserver.
Patch Availability:
Hewlett-Packard has issued an update to correct this vulnerability. More details can be found at:
http://h20000.www2.hp.com/bizsupport/TechSupport/Document.jsp?objectID=c02286088