Okay ... so I've seen this in a multiplayer mod for Mafia II, and while I haven't used it yet, it seems like a really good idea. They have a server registration system, where you have to register your server on their website before it is public and/or on the master list. Quoted from their website:
If you want to have your server accessible on the Internet, you have to register it.
This system help us to increase quality servers and permit us to ban cheaters.
Now, I think this could be applied to another aspect: players. A registration ability via some "master system" hosted by LU, where players register their account, validate a PC/IP/LUID/etc before being able to play on a server.
For server owners, I think this should be optional though, in case they want to allow non-registered or banned players on their server. Not sure why any server owner would want this (I sure wouldn't), but should be up to them. Also good for offline or LAN servers.
Think of it like Minecraft and their master account thing. I think it would be helpful in keeping the hackers at bay.