The Key to Secure Passwords
In 2024, the most commonly used password in the United States was “secret,” followed by “123456” and “password,” according to NordPass, a provider of cybersecurity and password management tools for individuals and businesses. Because passwords are a primary line of defense against identity theft, using weak or recycled passwords like these makes it easy for cybercriminals to access your financial accounts and personal information. Learn about secure passwords to keep fraudsters from accessing your data.
How do passwords get hacked?
The most common method that cybercriminals use to crack passwords is to take random guesses. With time on their hands and increasing AI capabilities, trying variations from a list of common passwords is sometimes all it takes. An evolved version of the random guess method is called a brute force attack where scripts or bots are used to continuously try different combinations of symbols and characters until the correct one is found. The simpler the password, the higher the chances that it gets hacked. The optimal defense against password hacking is to ditch weak passwords and reinforce your credentials.
What is a strong password?
A strong password is unique and difficult to guess. The criteria of a strong password include:
- Do not include easily identifiable personal information (ie. pet or children’s names, favorite schools or team names, etc.)
- At least 12 characters long
- Complex and difficult to guess
- Combination of uppercase and lowercase letters, numbers and symbols
Since strong passwords are more complicated and difficult to remember, people often resort to using weak and predictable passwords that leave them vulnerable to cyberattacks. Choosing a familiar phrase can build the foundation for creating a strong password when it’s combined with the above criteria. For instance, the common phrase “cup of joe” could be made into a strong password by using both upper and lower case letters, numbers, and changing some of the letters to symbols, like this: (uP!0F*J03#!.
Go beyond using a strong password to enhance your security
While strong passwords are one good tool to fight cybercrime, there are additional steps you should consider:
- Multifactor Authentication (MFA). MFA is a security method that requires users to provide two or more different verification factors to gain access to a system or account, rather than relying on just a single password. This can be a personal identification number (PIN), a code sent to your email or mobile phone, a fingerprint, or voiceprint. Not all accounts or services offer MFA, but bankHometown does! Set up MFA today by logging into Online or Mobile Banking.
- Password Manager. Use a password manager to safely store all your credentials in a secure digital vault instead of writing them down or storing them in shared spaces. This software can also generate strong passwords and perform audits to identity weak or potentially exposed credentials.
- Social media privacy. If you enjoy using social media accounts, make sure you have them set with the strongest possible privacy settings. Public access to your social media can be an easy way for fraudsters to gather personal details that can help them to guess passwords or otherwise compromise your identity.
bankHometown is looking out for you.
We’re committed to keeping you informed about the latest scams and ways to protect your money and personal information. For more information about valuable tools to help you monitor your account activity, visit our website, stop by your nearest office, or call Customer Care at 888.307.5887.
