Honeypots are closely monitored decoys that are employed in a network to study the trail of hackers and to alert network administrators of a possible intrusion. Using honeypots provides a cost-effective solution to increase the security posture of an organization. Even though it is not a panacea for security breaches, it is useful as a tool for network forensics and intrusion detection. Nowadays, they are also being extensively used by the research community to study issues in network security, such as Internet worms, spam control, DoS attacks, etc. In this paper, the authors advocate the use of honeypots as an effective educational tool to study issues in network security.