A strong password provides the necessary protection against financial fraud and identity theft. One of the most common ways for hackers to break into computers is to guess passwords. Simple and frequently used passwords allow attackers easy access and control over a computer device.
Sharing a password is a bad idea. By giving your credentials to anyone, you are seriously endangering the security of your account because, since they have access, you don't know what they will do with your access data. Most likely, the person you trust with the account details was not intended to compromise your account security, but you probably didn't think about the broader consequences of account security breaches, so you won't take the necessary steps to secure your information.
If you lose or change your computer, it is possible that someone will gain access to your saved passwords. A consistent change of password means that even if someone finds an old, saved password, it will no longer be useful. A hacker may try to access your account more than once in a given period of time. Changing the password reduces the risk of frequent access.
Avoid creating passwords based on information that others may know or find easily. Examples:
Hackers use many methods to try to hack your accounts. They can either manually type letters, numbers and symbols to guess your password, or use a more advanced method known as 'force attack'. In this method, the computer program runs every possible combination of letters, numbers and symbols as soon as possible to crack the password. Basically, the longer and more complex your password is, the longer this process will take, which in turn helps to keep your data secure for longer.