The age of the hacker is immaterial to the simple fact that our information is in danger of being robbed, stolen, configured, manipulated and surmised. Our information is everywhere: on our computer, our credit cards, our bank, our social media and even our phones. Anyone with some reasonable intelligence and general computer literacy can mostly decipher any particular person's codes or passwords on their systems. This continuing threat of hacking or stealing peoples' information is going to be with the modern society for centuries to come. There is no perfect system to keep people from it; anymore than keeping robbers out of your house. A person can pay for expensive alarm systems or big dogs but in the end, there is always a way.
It doesn't really matter how sophisticated our security systems are. All that matters is that when designing and implementing a security system, the human factor must be considered above all. Do not focus so much on cracking codes: educate the human beings for respecting each others' privacy and you won't have to worry about security.
The incident of the 5 year old and the XBox account, it doesn't mean that all information is in danger of being revealed. Just because Microsoft had one problem, it was an isolated incident that was fixed as soon as they were made aware of it. It doesn't mean that people who use banking or email accounts are in danger.
I think that there will always be flaws in our Internet security but over time we will continue to improve and develop of these flaws and eventually reach a point where much of the information is completely secure, regardless of how much security there is there will always be odd instances where someone can get past it.