Hi,
I have downloaded a trial version and played around with the new Zoho Recruit. The new Career Site looks really nice, especially since you can embed the listings on your regular home page. I will try this feature next.
I have tried the Application Form though. It looks like this is the only way to apply to the Job Openings, no configuration possibility. It is a pity since the Application Form lack basic security mechanisms. To me it looks like there is no way to secure that the Applicant is in control of the entered email address. You can select to manually add sent applications, but this manual operations only works once. Further applications will be accepted without any manual intervention.
A consequence of this is that any previously accepted Candidate record can get its data corrupted by anyone filling in an application with that Candidates email address.
A one time password similar to what is implemented in Zoho Forms (OTS) should make it much safer.
Another alternative would of course be to force the applicants to create an account and log in. I believe this alternative should not be mandatory since creating accounts and password tracking possibly lead to larger drop-out.