No other applications will be able to access the information stored in your default settings for your application. But this does not mean that information cannot be obtained. You can connect the device to Xcode and run the application. On devices, you can view information about your application, and information stored in the default user will be listed there.
As a rule, it is not recommended to store user confidential data there, although it is not so easy to access, it is still available. For general non-personal data or settings, this is really not a big problem. You can always use the built-in access to the key chain to store information about the username and password and use the default settings for everything that you may need.
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