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Like, you still don't know this thing is on your computer, then your first login, then BAM! your account is stolen.
lol
Keep programs up to date.
There are any kinds of malware. Even those which can make your computer inoperable physically.
Antivirus only can see what it knows.
Usually for example a keylogger disguised a "Steam hack" or anything like that would attempt to look for your Steam Credentials, but if there is a trojan or backdoor it would attempt to steal alot more information, including payment and personal information.
It can sometimes be hard to detect keyloggers especially if the anti malware/virus software is detecting it by behaviour, as keyloggers can be used for legitimate purposes.
Unless you are absolutely sure you have removed any keyloggers, or don't have any you should probably format your drive, maybe not so much for a simple keylogger, but if it was a backdoor then you can't tell if your system would be safe to use after infection.
Installing any basic/free anti virus like BitDefender, Nortons, McAfee, Kaspersky etc, will pretty much guarantee you protection against such things as those types of malware have code in them easily recognised and identified as malware and are therefore then quaranteened and removed from the system when found.
Keyloggers and similiar malware would not even be in the top 10 of security vulnerabilities. To answer the original question whether they are a threat or a joke. Yes they are a threat to the unwary, but it is a joke if anyone ever gets data stolen from them from one because it is so easy to be guarded against.
Good that i have MalwareBytes.