How to Choose a Strong Password for Your Account?
Security is one of the critical aspects of any financial service. For instance, Bankera employs several precautionary measures, including cybersecurity tools, such as second-factor authentication, and the full-reserve banking model, to protect our customers’ funds.
However, the foundation of any secure account lies in the factor that users develop themselves – their account password. In this blog entry, we will present how to choose a strong password and provide some additional insights on the topic.
Password mistakes to avoid
However ridiculous it might sound, the word “password” is one of the most popular password choices in the world today. As far as the security field is concerned, a “popular” password most definitely means a “weak” password.
According to a recent analysis, seven of the ten most commonly used passwords include a symbol sequence, usually – a numerical one, such as “123456789” or “111111”. This type of passcodes is extremely weak, as it may only take a few seconds to crack it.
Additionally, using your personal details for password creation – for instance, mentioning your name or birth year in the password – is also a mistake to avoid. Although it is easier to remember your login credentials this way, it exposes your security to several risks if your details are available online.
How to create a strong password?
There is no universal way of coming up with a password. Some people just bash their keyboards to create a random symbol sequence, others use password generators, and the vast majority make memorable passwords themselves.
While you might create a strong password using any of these methods, your chances will increase if you follow a few standard rules:
1. Make sure that your passcode is at least eight symbols long. The lengthier the password, the more difficult it would be for anyone else to guess it.
2. Use uppercase letters, lowercase letters, and numbers – this way, your password will become way more complex and harder to crack.
3. To increase your password strength even further, try to include special symbols.
4. Although passwords based on specific words are easier to remember, it is recommended to avoid dictionary words or phrases. This recommendation is one of the main reasons why using password generators or creating a random symbol sequence is considered a more secure option.
The above requirements assure that your password meets certain cybersecurity guidelines and your account is in no immediate danger. At Bankera, we encourage our clients to create eight symbol passwords and include at least one of each of the three symbol types for safety reasons.
How to remember my password?
With so many accounts and so many passcodes to recall, one might find themselves wondering “how to remember my password?” more frequently than they would like to. In fact, stronger passwords might provoke such situations even more often. To counter this issue, we present a couple of solutions that could help.
A great way to come up with strong and memorable passwords is by simplifying phrases. For instance, the sentence “I first heard of Bankera on the twenty-first of January, 2018” might form a great password – you just need to simplify every word into a single symbol. In this case, the password would be “I1hoBot21oJ2018”.
Note: This password is provided for illustrative purposes only and should not be used as your real account password. Please create your own unique passwords while setting up your account.
If you are not good at memorising phrases by heart, you can simply download a preferred password manager and store all your passwords securely there. The only thing you would have to remember with a password manager is the so-called “master password”, used to unlock the manager.
Improve your account security
Now that you have learnt how to choose a strong password, you can take a moment to improve your account security by selecting a more complex password for your Bankera account – or any other account online.
Also, do not forget to change your passwords every three months. Frequent updates will enhance your online security even further.
21 January, 2021