Thats a miss quote, however he did correct himself to that in his following post.and if you are into synthetic chemistry at all its handy for oxidation reactions, eg secondary alcohols to ketones or primary alcohols -> aldehydes -> carboxylic acids, I've got some too and thats what i'm gonna use it for!
That is one thing it can be used for, I personally use Potassium Dichromate for these reactions, although that stuff can be even nastyer!!! Carboxylic Acids are used to make esters, which are the no.1 ingredient of most perfumes, very smelly things.
It used to be, and still is used to treat external fungi on the body, most commonly atheletes foot, and does so very effectively. You end up with a purple/brown stain on your skin for a few days. It is a very effective dissinfectant.
I use it in the lab for making oxygen gas, again, a more effective alternative to this is Sodium/Potassium Chlorate.
So alot of the time you can avoid it, in the lab we prefer to use Potassium Permangante instead of chlorates because its safer, and less harmfull.
Also, i would not suggest poring it down the sink, doesnt do any bacteria based sewage treatment plants any good, and doesnt do the fisheys and good either.
PS: Haha, i can see one of my old posts in the first page of this thread, that was a long time ago, ive answered all those questions myself!!!