Well I was wondering whats the best Linux live-cd out there thats sorta reliable, new and it's good for handling security issues (I think we all know what I'm trying to say).

Not sure what issues you are trying to handle, but you can look into these apps that can make any system hard as a rock:
bastille
selinux
chkrootkit
snort
iptables
Hacking Linux Exposed is a great book for learning about security issues.

I think he is looking for.... the other end of the security spectrum, if you know what I mean.

And for my take on that, while I was tech in acomputer shop, we made a disc with isolinux based on a debain live cd or knoppix or something, with a few extra tools to help out windows like ERD Commander, which has a built in retrieval for XP keys, and abilty to change user and admin passwords, run programs, search locked drives... other such things for data recovery.

Now, that said, it is VERY BAD to use these for other purposes than recovering computers, but you can make them like we did with a live CD as a base, or go the other way and put them on usb.