Unfortunately, 2019 was another record year for data breaches, giving cybercriminals access to even more passwords they can use to break into your accounts.
If you reuse the same password across multiple accounts – as many people do – you put all of those accountsif just one of them gets hacked.
"If a password is used across multiple accounts, a very simple account you created in the past could provide access to your financial information, which could cost you a lot of money and time," said Chris Scott of IBM X-Force Research.
You should have a strong and unique password for all your accounts. You can use a password manager that will “remember” your passwords for you.
At the very least, it's imperative to have a secure and unique password for your key accounts: email, banking, credit card, financial, and social media. Then, set up multi-factor authentication (MFA) whenever you have the option.
MFA requires you to enter a code – sent to you by phone or email – as well as your password to log in, to verify that it’s really you. Yes, it takes a few seconds, but it can stop a hacker.
“Even if someone gets your password, multi-factor authentication makes it very difficult for them to hack your systems,” Scott said.
