The American Cancer Society believes that there is not an increased risk of lung cancer associated with cosmetic grade talc, which is free of asbestos-like fibers, but does note a recent study that shows a 37% increase in risk of ovarian cancer in women who used talcum powder or feminine deodorant products containing talc.
Talc is most dangerous in powder form, but you may want to avoid it in all forms. When it comes to products that could cause cancer, I always think if it’s something I can live without, it’s just not worth the risk. Read labels and look for talc in everything from deodorant to antacids.
If you have a baby, look for a good range of talc-free baby powders that are available in Little Green Buddies. They are Aromababy's Natural Powder (with Organic Lavender), California Baby Calming Non-Talc Powder and Gaia Natural Baby Powder.
Read "Cancer warning for talcum powder" in The Star.