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The PIN - your Personal Identification Number - is the key that unlocks access to your funds. Your bank is not content with a mere swipe of your debit card. Why? Because it could be stolen.

Your bank card also has a credit network logo on it, typically Visa or MasterCard. This allows you to use your debit card as a credit card. Even though funds will still be drawn from your bank account, it provides the protection that Visa and MasterCard offer their subscribers. Among many others, these include fraudulent use limits - a feature not available on debit card transactions. 
Using your debit card is an electronic version of writing a check. The PIN is your signature. It is only required by your bank and the merchant at the very instant you use it. Once the transaction is authenticated, there is no need to retain it. After all, you only sign a check once. 
There is no excuse for Target to have retained customer PINs. This is out of character for Target - a company with an otherwise pristine culture and corporate track record. Nonetheless, they should be held accountable - and $10 credits won't cut it here.