Faith and false propositions

A very interesting question from last week's Faith and Freethought podcast:

"How can faith be epistemologically valid when it provides no method for distinction between true and false propositions?"

Hmmm. If you're anything like me, the first thing you'll be thinking is 'what's epistemology again?' - so, from those kind people at dictionary.com:

e·pis·te·mol·o·gy (ĭ-pĭs'tə-mŏl'ə-jē) : n. The branch of philosophy that studies the nature of knowledge, its presuppositions and foundations, and its extent and validity.

The question is a very interesting problem, neatly expressed. How is it justigiable to 'live by faith' when there is no way of knowing if the thing you're hoping for is true?

"Now faith is being sure of what we hope for and certain of what we do not see."

(Hebrews 11v1)

But that sounds like wish-fulfillment, right? Is there any foundation but hope?

Anyone?