Now, if you are worried about negative SEO, which apparently many of you are. I want you to be able to do something about it.
Now, if you were hit already, you will need to do a lot more work than what is described below. You would need to use both webmaster tools and then third party link tools to analyze your links and figure out what to get rid of.
But for those who are like me, do not have any ranking problems right now, but maybe a bit concerned over negative SEO, you can check a single report in Google Webmaster Tools every few days or weekly and manage your links there.
Just login to Webmaster Tools, go to your link report, and download the latest links. Look at them all manually and disavow the links you do not want.
I know it won't show all your latest links but it should be enough for you to stay on top of your most recent links. These links are the ones you need to stay on top of, so that negative SEO doesn't creep up and bit you.
For the rest of you, no need to worry. Just focus on what you can control and if Google slips up, it will ultimately start to hurt their market share and search quality.
Forum discussion at WebmasterWorld.