Dates of relevance:
1961: Glashow's original suggestion that SU(2) x U(1) is the gauge group of the SM.
1964: 3 papers written independently by Higgs; Guralnik, Hagen, Kibble; Brout, Englert that proposed what is now called the "Higgs Mechanism", in particular explaining why a spontaneously broken gauge symmetry does not have massless scalars ("Nambu Goldstone Bosons") flying around.
1968: Weinberg and Salam independently propose a "Higgsed SU(2) x U(1)" gauge theory with Yukawa couplings to the matter fields that describes nature.
1979: Nobel Prize awarded to Glashow, Weinberg, Salam.
2008: Nobel Prize awarded to Nambu.
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There is a difference between "Higgs Mechanism", which pretty much all high energy physicists believe is responsible for what is going on at the weak scale, as well as explaining the Meisner effect in superconductivity (where it is called the "Anderson-Higgs Mechanism"), etc. and the "Higgs Boson" which is the *MINIMAL* model, proposed by Weinberg and Salam, for how the "Higgs Mechanism" is carried through; minimal in the sense that there is only one additional scalar field required.
There are MANY who believe that there is NO Higgs boson. I, personally, would love to believe that. Unfortunately for us, all of the precision EW observables, which depend on the existence of the details of the "Higgs sector" are in perfect agreement with the theory of a single scalar field with a mass of 115 GeV (for details, check out the RPP referenced above, for example). It is hard to ignore these facts.
But just because there is no "Higgs Boson" does
not mean that there is no "Higgs mechanism" at work. This could be explained for example by theories such as "technicolor" or "composite Higgs theories" as well as some extra dimension theories where the role of the "Higgs boson" is played by something else. Again, this is not in line with EWP measurements, but there is a little wiggle room.
As to what the "Higgs Mechanism" explains: well, again, one can compute EWP observables and again, they agree with experiment. That includes things like the \rho parameter mentioned above (ratio of the W,Z masses), and again, when you assume the "Higgs boson" exists and has its couplings the model demands, you can calculate these numbers and they agree perfectly with the data, as long as the mass is 115 GeV, up to error bars.
I don't think there is any more doubt left that a "Higgs mechanism" is at work in the electroweak theory, the REAL question is: what's up with that stupid "Higgs boson"?!
I hope that helps a little.
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People: let's try to calm down a bit! There's no reason to be adversarial or nasty! This is a perfectly valid question and deserves a good answer. As to touchy, nasty words like "propaganda": Hey: I'm the first person to tell you to break away from the box! But this really is more than propaganda. EWP cannot be ignored!
Save words like "propaganda" for supersymmetry! (BTW: I'm a SUSY theorist, so I'm allowed to say things like that!

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