Apps, websites and even your own mobile devices often require a password. Your online or mobile banking account is no exception. With so many passwords it can be difficult to balance cybersecurity with the convenience of being able to remember your passwords, but it’s not impossible. Follow these tips to choose, and remember, a secure password:
- Choose a unique password - You would be surprised to know how many people still use "password" as their password. In addition to choosing a unique password, also make sure your password does not contain any personal information. Your children's names, birthdates, phone numbers, anniversaries may help you to remember your password, but they are a cybersecurity risk because they are much easier to guess.
- Use a combination of letters, numbers and symbols -A secure password will contain a combinations of upper and lowercase letters, numbers, and symbols.
- One password per account -Do not use the same password for multiple websites and/ or accounts. Instead, create a unique password that means something to you and relates to the app, website or account. This will help you remember the password but mitigate the risk of someone gaining access to all of your accounts with a single password.
- Avoid single and common words -Single and common words (like “password” or “pizza”) are easy for hackers to compromise. Consider using a passphrase. A passphrase is similar to a password, but instead of a single word, it’s a series of words, e.g., “GreenVioletPink” (three favorite colors) or “PistachioStrawberryVanilla” (three favorite ice cream flavors). Adding a random element, like a number (e.g., “31GreenVioletPink31”) or special character (e.g., “Pistachio#Strawberry#Vanilla”), makes them even more secure.
- Use a password management tool -If you are still struggling with the concept of remembering increasingly complex and difficult, but secure, passwords, consider a password management tool. With a password management tool you only need to remember a single password or passphrase, and the password management tool handles the rest. With a password management tool you can also use an automated, random password generator to create unique and secure passwords for all of your accounts.
It is also important to remember that if you get hacked or even think you might have been hacked, change your passwords immediately.
Now that you know the importance, are you interested in leveraging these secure password tips and enjoying the freedom that comes with Online and Mobile Banking? You should feel confident in your password creating skills.