Note that the CAPTCHA module interacts with page caching (see <a href="!performancesettings">performance settings</a>). Because the challenge should be unique for each generated form, the caching of the page it appears on is prevented. Make sure that these forms do not appear on too many pages or you will lose much caching efficiency. For example, if you put a CAPTCHA on the user login block, which typically appears on each page for anonymous visitors, caching will practically be disabled. The comment submission forms are another example. In this case you should set the "%commentlocation" to "%separatepage" in <a href="!commentsettings">the comment settings</a> for better caching efficiency.