When it comes to food-related myths, many people believe that moldy food can be salvaged by simply removing any mold-laden areas of the food in question. This, however, is completely untrue, as there is no way to save food once it has fallen victim to mold.
The Myth
The common myth surrounding moldy food is that the food becomes safe to eat after any moldy parts of it are removed. This myth stems from the understandable belief that only the areas of food that feature visible mold have succumb to its effects. It is important to realize that if mold has begun to grow on any part of a piece of food, the rest of the food has been contaminated with bacteria, or in extreme cases, harmful toxins. Ergo, cutting off visible mold does not make the food safe to eat. Moldy food should be thrown out immediately, as consuming it can cause a variety of allergic reactions, illnesses and respiratory problems.
Protecting Yourself
In addition to never consuming moldy food, regardless of whether visible mold deposits have been removed, there are a number of other ways you can protect yourself--and your food--from falling victim to mold. First off, make a point of never leaving perishable food items outside of a refrigerator for more than 2 or 3 hours. Secondly, make sure to store all leftovers in clean, airtight plastic containers and to throw them out if they haven't been eaten within 4 days.
When dealing with moldy food, remember that it is not safe for consumption under any circumstances. Although there are many steps you can take towards preventing mold, you cannot salvage food on which it has already taken hold.

