  We reanalyze the recent data from the Liquid Scintillator Neutrino Detector
(LSND) experiment, that might indicate anti-nu_mu<--->anti-nu_e mixing. This
indication is not completely excluded by the negative results of established
accelerator and reactor neutrino oscillation searches. We quantify the region
of compatibility by means of a thorough statistical analysis of all the
available data, assuming both two-flavor and three-flavor neutrino
oscillations. The implications for various theoretical scenarios and for future
oscillation searches are studied. The relaxation of the LSND constraints under
different assumptions in the statistical analysis is also investigated.
