mysql access settings

[JDCmedia]

I was trying to access my mysql db remotely and found the following article:
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If it's a Plesk server running MYSQL, then you need to tell SQL to allow remote access to MYSQL from another server. Run the following on the Plesk MYSQL database server that you're trying to access remotely, changing the password, ip address, and username:

To allow certain ips access to MYSQL:

mysql -uadmin -p`cat /etc/psa/.psa.shadow` -Dmysql -e "insert into user values ('111.111.111.111', 'databaseusernamehere', password('databasepasswordhere'), 'Y', 'Y', 'Y', 'Y', 'N', 'N', 'N', 'N', 'N', 'N', 'N', 'N', 'N', 'N')"

and then run:

mysql -uadmin -p`cat /etc/psa/.psa.shadow` -e "flush privileges;"
(Note:_ The Y's and N's above indicate permissions)

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I performed this by logging into each dedicated domain IP on my server. It seems that they all have access to ALL databases.
Is there anything negative to doing this? If so, can someone tell me what the default settings are so I can change them back?
Another note: I changed all the 'N' permissions to 'Y'. Is that bad? Where can I find out what each parameter permission is setting?

 

[falcon7]

By changing N to Y, you have opened up your database to the world. Anyone can change anything, including Plesk virtual hosting info.

VERY BAD.