Milw0m was a nice place to learn about new security exploits specially for web application, it caused a lot of people to get hacked by script kiddies but that's the point to stay secured.
Milw0rm was managed by Str0ke he decided to shut it down but rumors says he sold it or pass it away to someone else with a new name.
anyway here is the best alternatives to milw0rm to feed your geeky brain:
http://www.exploit-db.com the best exploit archive.
http://inj3ct0r.com/ Same layout and colour scheme as Milw0rm. This site has recently been updating regularly. Good categories.
http://securityvulns.com/exploits/ This Russian site has been around for years. The updating speed varies. Doesn't have categories.
http://securityreason.com/exploit_alert/ This is reasonably regularly updated. Doesn't have categories.
These aren't strictly exploit archives but can still find what you're after.
Searching seclists.org can give good results. Particularly Bugtraq and Full Disclosure which is where most exploits get released.
http://packetstormsecurity.org/exploits20.html If you're just after the latest exploits PacketStorm isn't bad.