i believe it was comicallyinsane who asked about the story of Angulimala.
I'm paraphrasing here, and this is my interpretation and understanding of the story. I'm sure I'll get many of the details wrong, but the point is simple. Consider it a parable
Angulimala was a brutal thug in what is now India, in the time of the Buddha. He was a notorious leader of a gang of thieves and brigands, and he was the leader because nobody could or would try to take his place. He wore a necklace of fingers - human fingers, cut from the hands of his victims.
The buddha came across this notorious killer on his daily alms walk. For some reason, Angulimala was overcome with the peace radiating off of this lone man. He asked the buddha how could he be so peaceful and calm, knowing that there is a brutal killer in the area. The buddha explained himself, and Angulimala dropped down right on the spot and became a bhikku (a monk - a disciple of the buddha).
There are many stories of Angulimala's time as a monk - suffice to say he had an extraordinarily hard time of things, due to the kammic debt he had to make up, but he just trucked along.
The point is, no matter how far one has sunk, there is a chance for redemption. Angulimala was about as far down as you can go ( think modern day serial killer ), and yet in the end found peace and happiness.
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This link is to the full sutta on accesstoinsight if you want to read the entire story.