Many OPs cut and paste raw text such as code, config files and error messages into their posts. Many overlook passwords, directories, binary meta data and other sensitive information which can compromise security and privacy.

Of course, it is up to the OP to carefully check their posts before submission, but many in their haste or ignorance are unaware of it. Moreover, placing the security entirely on the individual is impractical, since a single breach can snowball into other ones. 

It is difficult for a program to catch every piece of sensitive data, but has SO considered adding functionality to remove or obfuscate the common ones such as exif data and directory paths? 

I am not advocating for blocking or altering posts, just for the detection of common ones and offering facilities to either remove or obfuscate them. Such a feature could add value by allowing cleaning up the posts.