As you may know, honeypots are systems that are specifically designed to attract hackers. Security researchers often use these systems to study hacker behavior and discover new types of attacks. Due to the inherent risk in establishing them, honeypots are always implemented on standalone systems and never on systems that store, process or transmit sensitive data.
I would strongly recommend that you not attempt to install a honeypot on your own; leave this dangerous activity for trained security researchers working in a controlled environment.
This was first published in October 2006