Personal Finance Resources: Financial Education & Literacy

World Password Day

Written by PSECU | May 2, 2024 12:00:00 PM

Raise your hand if you use your pet’s name for any of your passwords. What about using the same password across multiple sites?

After using personal information (date of birth, Social Security number, etc.), those two practices are perhaps the top two no-no’s where passwords are concerned.

A few years back, World Password Day, celebrated on the first Thursday in May, was created to bring attention to the role strong passwords play in protecting your all personal, financial, and medical information.

In honor of this day, we’re giving you three tips for leveling up your online security game.

1. Create passphrases.
Think of a phrase, then insert a number or a symbol. So “I love PSECU” could become i2Love!PSECU. In theory, passphrases are easier to remember and much harder to guess than a single word.

2. Use a password manager app. Passwords written on scraps of paper shoved in a drawer is NOT your best security option! A digital password manager can really level up your security game. You log your passwords into their software, then you just need to remember one password: the one that gives you access to the manager.

3. Change your passwords/phrases every 6 months. Security experts recommend this practice. However, just be sure you’re continuing to use strong passwords/passphrases. It might be tempting to just change up one letter or a symbol, but that defeats the purpose of changing. Hackers can use brute-force techniques to discover your shortcut.

A strong password/passphrase is a great first line of defense. We also recommend enabling two-factor authentication (aka 2FA), if it’s offered as an option. After passwords, enabling 2FA is considered by many security experts to be the best action you can take to lockdown your online accounts.

For more articles on how to safeguard your personal information, check out our blog. We have an entire section devoted to security tips and trends.