After talking to Wellsfargo about another issue, the banker recommend that I create a second checking account solely to make online purchases.
The balance of this secondary checking account will almost always be $0. When I want to buy something online, I transfer money (using online banking) into the account and make the purchase. If my information for this account is stolen, then I will make a fraud claim. While Wellsfargo investigates, this account will be frozen. But since I only use this account for online purchases, it will not disrupt my life...I still have access to my credit card (which I use for purchases in real life), my savings account (which contains most of my money), and my main checking account (which I use to pay bills). After Wellsfargo determines that I was not responsible for the fraudulent purchase, I will get back any stolen money and not be charged any overdraft fees.
Because the fraud risk associated with this account is so low, I thought of another benefit of a secondary checking account. I often purchase products from Google (i.e Google Checkout), Amazon, Barns and Nobel, and Newegg. Each site recommends that I save my card information with them so that it will be easier to make purchases in the future. Normally this is a bad idea since it is just one more way that your card information could be stolen. Now I will be less risk averse and choose to store my secondary checking account information with these sites.