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Protect Your Passwords Cyber Security

How to Protect Your Passwords: 4 Tips

According to the 2016 Identity Fraud study, released by Javelin Strategy and Research, $15 billion was stolen from 13.1 million U.S. consumers in 2015. Over the past six years, identity thieves have stolen a total of $112 billion.

Whether you’re a business owner, investor or just someone staring at your computer screen, keeping your social security number, bank account passwords, and credit card numbers/security codes safe is now more important than ever.

Having your identity stolen can ruin your business or your life, so learn these Life Hack tips to help you protect your passwords and keep your identity safe:

  1. Use biometrics if it’s an option. The newest smartphones, tablets, and laptops give you the ability to log in with your fingerprint instead of a password. Biometric identification won’t require you to remember a password and can identify you within a matter of seconds. As an added bonus, biometrics saves you the hassle of resetting a password if you forget it since you can never forget your fingerprint!
  2. Don’t use the same password everywhere. If you come up with a strong password, you may be tempted to use that password for your email account, bank account, and social media accounts. But if your password is accidentally leaked by one of these services, hackers may try to use this password for all of your accounts. Solution: use different passwords. That way, if one of your account’s passwords is broken, your other accounts won’t be compromised.
  3. Use multi-step authentication. Take advantage of two-step verification if a company offers it to you. Companies that allow you use two-step or multi-step authentication require two pieces of information as proof of identity: your password plus a cell phone response via text message, or your password plus a time-based code from your cell phone. Two-step verification makes it less likely that your account can be stolen, because a hacker would need to have your cell phone number, access to your calls or texts in real time, and your password in order to bypass your account’s security system.
  4. Use a password manager. If you use many different accounts each day, it can be difficult to remember each account’s password. That’s why you should consider using a password manager, like LastPass for LogMeOnce. Both of these companies maintain an encrypted database of your passwords so that you only need to remember one password for your database. These managers can also synchronize your different account passwords across multiple devices so that you can log into a site from your smartphone even if you created the password on your laptop.



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About Matt Niksa

Perhaps the youngest person to ever write for Financial Poise, Matt Niksa was an editorial intern with the company during summer 2016. Prior to that, he was a contributing writer for AOL and Medium. Subsequent to his time with Financial Poise, Matt was a correspondent with the Palo Alto Daily Post.

View all articles by Matt »