Well, because LDAP servers are fualt-tolerant, fast, and easily replicable. Also, several other services can use LDAP, like e-mail address lookups, configurable maildrops, and Name searches with common client mail programs.
There are several other more subtle reasons, like the myriad of admin tools and the platform-independent flexibility of a central LDAP authentication server, not to mention the capability to keep track of almost anything related to users - but I'll have to fill this out later when I want to spend a lot of time setting it up...
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