diff --git a/django/forms/formsets.py b/django/forms/formsets.py
index 1addbc617b..81b75f2796 100644
--- a/django/forms/formsets.py
+++ b/django/forms/formsets.py
@@ -21,6 +21,9 @@ MAX_NUM_FORM_COUNT = 'MAX_NUM_FORMS'
 ORDERING_FIELD_NAME = 'ORDER'
 DELETION_FIELD_NAME = 'DELETE'
 
+# default maximum number of forms in a formset, to prevent memory exhaustion
+DEFAULT_MAX_NUM = 1000
+
 class ManagementForm(Form):
     """
     ``ManagementForm`` is used to keep track of how many form instances
@@ -97,11 +100,10 @@ class BaseFormSet(object):
             total_forms = initial_forms + self.extra
             # Allow all existing related objects/inlines to be displayed,
             # but don't allow extra beyond max_num.
-            if self.max_num is not None:
-                if initial_forms > self.max_num >= 0:
-                    total_forms = initial_forms
-                elif total_forms > self.max_num >= 0:
-                    total_forms = self.max_num
+            if initial_forms > self.max_num >= 0:
+                total_forms = initial_forms
+            elif total_forms > self.max_num >= 0:
+                total_forms = self.max_num
         return total_forms
 
     def initial_form_count(self):
@@ -111,14 +113,14 @@ class BaseFormSet(object):
         else:
             # Use the length of the inital data if it's there, 0 otherwise.
             initial_forms = self.initial and len(self.initial) or 0
-            if self.max_num is not None and (initial_forms > self.max_num >= 0):
+            if initial_forms > self.max_num >= 0:
                 initial_forms = self.max_num
         return initial_forms
 
     def _construct_forms(self):
         # instantiate all the forms and put them in self.forms
         self.forms = []
-        for i in xrange(self.total_form_count()):
+        for i in xrange(min(self.total_form_count(), self.absolute_max)):
             self.forms.append(self._construct_form(i))
 
     def _construct_form(self, i, **kwargs):
@@ -367,9 +369,14 @@ class BaseFormSet(object):
 def formset_factory(form, formset=BaseFormSet, extra=1, can_order=False,
                     can_delete=False, max_num=None):
     """Return a FormSet for the given form class."""
+    if max_num is None:
+        max_num = DEFAULT_MAX_NUM
+    # hard limit on forms instantiated, to prevent memory-exhaustion attacks
+    # limit defaults to DEFAULT_MAX_NUM, but developer can increase it via max_num
+    absolute_max = max(DEFAULT_MAX_NUM, max_num)
     attrs = {'form': form, 'extra': extra,
              'can_order': can_order, 'can_delete': can_delete,
-             'max_num': max_num}
+             'max_num': max_num, 'absolute_max': absolute_max}
     return type(form.__name__ + str('FormSet'), (formset,), attrs)
 
 def all_valid(formsets):
diff --git a/docs/topics/forms/formsets.txt b/docs/topics/forms/formsets.txt
index e2a2b00c7d..d2d102b5d6 100644
--- a/docs/topics/forms/formsets.txt
+++ b/docs/topics/forms/formsets.txt
@@ -98,8 +98,8 @@ If the value of ``max_num`` is greater than the number of existing
 objects, up to ``extra`` additional blank forms will be added to the formset,
 so long as the total number of forms does not exceed ``max_num``.
 
-A ``max_num`` value of ``None`` (the default) puts no limit on the number of
-forms displayed.
+A ``max_num`` value of ``None`` (the default) puts a high limit on the number
+of forms displayed (1000). In practice this is equivalent to no limit.
 
 Formset validation
 ------------------
diff --git a/docs/topics/forms/modelforms.txt b/docs/topics/forms/modelforms.txt
index fec0d14836..62020e461e 100644
--- a/docs/topics/forms/modelforms.txt
+++ b/docs/topics/forms/modelforms.txt
@@ -738,8 +738,8 @@ so long as the total number of forms does not exceed ``max_num``::
     <tr><th><label for="id_form-2-name">Name:</label></th><td><input id="id_form-2-name" type="text" name="form-2-name" value="Walt Whitman" maxlength="100" /><input type="hidden" name="form-2-id" value="2" id="id_form-2-id" /></td></tr>
     <tr><th><label for="id_form-3-name">Name:</label></th><td><input id="id_form-3-name" type="text" name="form-3-name" maxlength="100" /><input type="hidden" name="form-3-id" id="id_form-3-id" /></td></tr>
 
-A ``max_num`` value of ``None`` (the default) puts no limit on the number of
-forms displayed.
+A ``max_num`` value of ``None`` (the default) puts a high limit on the number
+of forms displayed (1000). In practice this is equivalent to no limit.
 
 Using a model formset in a view
 -------------------------------
diff --git a/tests/regressiontests/forms/tests/formsets.py b/tests/regressiontests/forms/tests/formsets.py
index ef6f40c3e3..573a8f6a6d 100644
--- a/tests/regressiontests/forms/tests/formsets.py
+++ b/tests/regressiontests/forms/tests/formsets.py
@@ -2,7 +2,7 @@
 from __future__ import unicode_literals
 
 from django.forms import (CharField, DateField, FileField, Form, IntegerField,
-    ValidationError)
+    ValidationError, formsets)
 from django.forms.formsets import BaseFormSet, formset_factory
 from django.forms.util import ErrorList
 from django.test import TestCase
@@ -51,7 +51,7 @@ class FormsFormsetTestCase(TestCase):
         # for adding data. By default, it displays 1 blank form. It can display more,
         # but we'll look at how to do so later.
         formset = ChoiceFormSet(auto_id=False, prefix='choices')
-        self.assertHTMLEqual(str(formset), """<input type="hidden" name="choices-TOTAL_FORMS" value="1" /><input type="hidden" name="choices-INITIAL_FORMS" value="0" /><input type="hidden" name="choices-MAX_NUM_FORMS" />
+        self.assertHTMLEqual(str(formset), """<input type="hidden" name="choices-TOTAL_FORMS" value="1" /><input type="hidden" name="choices-INITIAL_FORMS" value="0" /><input type="hidden" name="choices-MAX_NUM_FORMS" value="1000" />
 <tr><th>Choice:</th><td><input type="text" name="choices-0-choice" /></td></tr>
 <tr><th>Votes:</th><td><input type="text" name="choices-0-votes" /></td></tr>""")
 
@@ -654,8 +654,8 @@ class FormsFormsetTestCase(TestCase):
         # Limiting the maximum number of forms ########################################
         # Base case for max_num.
 
-        # When not passed, max_num will take its default value of None, i.e. unlimited
-        # number of forms, only controlled by the value of the extra parameter.
+        # When not passed, max_num will take a high default value, leaving the
+        # number of forms only controlled by the value of the extra parameter.
 
         LimitedFavoriteDrinkFormSet = formset_factory(FavoriteDrinkForm, extra=3)
         formset = LimitedFavoriteDrinkFormSet()
@@ -702,8 +702,8 @@ class FormsFormsetTestCase(TestCase):
     def test_max_num_with_initial_data(self):
         # max_num with initial data
 
-        # When not passed, max_num will take its default value of None, i.e. unlimited
-        # number of forms, only controlled by the values of the initial and extra
+        # When not passed, max_num will take a high default value, leaving the
+        # number of forms only controlled by the value of the initial and extra
         # parameters.
 
         initial = [
@@ -878,6 +878,64 @@ class FormsFormsetTestCase(TestCase):
         self.assertTrue(formset.is_valid())
         self.assertTrue(all([form.is_valid_called for form in formset.forms]))
 
+    def test_hard_limit_on_instantiated_forms(self):
+        """A formset has a hard limit on the number of forms instantiated."""
+        # reduce the default limit of 1000 temporarily for testing
+        _old_DEFAULT_MAX_NUM = formsets.DEFAULT_MAX_NUM
+        try:
+            formsets.DEFAULT_MAX_NUM = 3
+            ChoiceFormSet = formset_factory(Choice)
+            # someone fiddles with the mgmt form data...
+            formset = ChoiceFormSet(
+                {
+                    'choices-TOTAL_FORMS': '4',
+                    'choices-INITIAL_FORMS': '0',
+                    'choices-MAX_NUM_FORMS': '4',
+                    'choices-0-choice': 'Zero',
+                    'choices-0-votes': '0',
+                    'choices-1-choice': 'One',
+                    'choices-1-votes': '1',
+                    'choices-2-choice': 'Two',
+                    'choices-2-votes': '2',
+                    'choices-3-choice': 'Three',
+                    'choices-3-votes': '3',
+                    },
+                prefix='choices',
+                )
+            # But we still only instantiate 3 forms
+            self.assertEqual(len(formset.forms), 3)
+        finally:
+            formsets.DEFAULT_MAX_NUM = _old_DEFAULT_MAX_NUM
+
+    def test_increase_hard_limit(self):
+        """Can increase the built-in forms limit via a higher max_num."""
+        # reduce the default limit of 1000 temporarily for testing
+        _old_DEFAULT_MAX_NUM = formsets.DEFAULT_MAX_NUM
+        try:
+            formsets.DEFAULT_MAX_NUM = 3
+            # for this form, we want a limit of 4
+            ChoiceFormSet = formset_factory(Choice, max_num=4)
+            formset = ChoiceFormSet(
+                {
+                    'choices-TOTAL_FORMS': '4',
+                    'choices-INITIAL_FORMS': '0',
+                    'choices-MAX_NUM_FORMS': '4',
+                    'choices-0-choice': 'Zero',
+                    'choices-0-votes': '0',
+                    'choices-1-choice': 'One',
+                    'choices-1-votes': '1',
+                    'choices-2-choice': 'Two',
+                    'choices-2-votes': '2',
+                    'choices-3-choice': 'Three',
+                    'choices-3-votes': '3',
+                    },
+                prefix='choices',
+                )
+            # This time four forms are instantiated
+            self.assertEqual(len(formset.forms), 4)
+        finally:
+            formsets.DEFAULT_MAX_NUM = _old_DEFAULT_MAX_NUM
+
 
 data = {
     'choices-TOTAL_FORMS': '1', # the number of forms rendered
diff --git a/tests/regressiontests/generic_inline_admin/tests.py b/tests/regressiontests/generic_inline_admin/tests.py
index f03641d292..8ba1700c76 100644
--- a/tests/regressiontests/generic_inline_admin/tests.py
+++ b/tests/regressiontests/generic_inline_admin/tests.py
@@ -6,6 +6,7 @@ from django.contrib import admin
 from django.contrib.admin.sites import AdminSite
 from django.contrib.contenttypes.generic import (
     generic_inlineformset_factory, GenericTabularInline)
+from django.forms.formsets import DEFAULT_MAX_NUM
 from django.forms.models import ModelForm
 from django.test import TestCase
 from django.test.utils import override_settings
@@ -244,7 +245,7 @@ class GenericInlineModelAdminTest(TestCase):
 
         # Create a formset with default arguments
         formset = media_inline.get_formset(request)
-        self.assertEqual(formset.max_num, None)
+        self.assertEqual(formset.max_num, DEFAULT_MAX_NUM)
         self.assertEqual(formset.can_order, False)
 
         # Create a formset with custom keyword arguments