Stored procedures allow you to store you sql code in a location outside of the application. this gives you the ability to:
- Change the SQL Code without recompiling/redistrubuting the application
- Have multiple applications use the same stored procedure to access the same data.
- Restrict users from having access to read/write to tables directly in the database.
- From a development perspective it also allows the DBAs/database programmers to work on sql code without having to go through application code to work on it. (separation of responsibilities essentially).
Do stored procedures protect against injection attacks? For the most part yes. In sql server you can create stored procedures which are not effective against this, mainly by using sp_executesql. Now this doesn't main that sp_executesql is a security hole, it just means that more precaution needs to be taken when using it.
This also does not mean that stored procedures are the only way to protect against this. You can use parameritized sql to accomplish the same task of protecting against sql injection.
I do agree with other people stored procedures can be cumbersome, but they have their advantages too. Where I work, we have probably 20 different production databases for various reasons (don't ask). I work on a subset of maybe three, and my teammate and I know those three really really well. How do stored procedures help us? People come to us and when they need to grab that information out of those databases, we can get it for them. We don't have to spend hours explaining the schemas and what data is de-normalized. It's a layer of abstraction which allows us to program the most efficient code against the databases we know. If this isn't the case for you, then maybe stored procedures aren't the way to go, but in some instances they can add a lot of value.