How to create strong passwords and protect your digital assets

There’s little doubt that the inception of the internet has been revolutionary. It has eliminated communication barriers, allowed the sharing of information on a grand scale, and enabled you to purchase items at the touch of a button.

Despite its many benefits, one adverse effect of the internet’s meteoric rise is rampant cybercrime. It’s so prevalent these days that research from the VPN provider, Surfshark, reveals there were 4,371 victims for every 1 million internet users in the UK in 2021.

The Independent reveals an even greater threat, as any computer connected to the internet faces an average of 2,244 attacks each day – roughly one every 39 seconds.

One of the more common ways that cybercriminals target your online accounts to steal your money or data is by cracking your passwords.

A survey reported by Cybernews even states that around 1 in 3 respondents said they’d experienced a data breach in the last 18 months due to a poor password choice.

With this in mind, continue reading to discover how setting strong passwords could protect you and your digital assets from malicious behaviour.

Passwords with personal information or common phrases are easy to crack

Using personal information, such as your address or the name of your pets, may seem like a convenient way to remember your passwords, but this makes them much easier to crack.

This is especially the case if you share details about your personal life online, namely pictures or information about your pets or home. Posting on social media may seem harmless at first, but hackers can use “social engineering” to gather information about you, which they use to compromise your online accounts and access your data.

While they may seem easier to remember, common passwords that employ overused phrases and words are equally risky.

These sorts of passwords are far more prevalent than you may initially think. Research from the password manager software, NordPass, shows the five most common passwords people around the world use:

Source: NordPass

It may come as a concern to learn that the five most common passwords in the world would hold off hackers for less than a second, so it’s vital to avoid using these sorts of passwords.

Reusing the same passwords for multiple accounts is also bad practice. Even though this may seem convenient, especially considering you likely have a plethora of different accounts, one compromised account could mean that hackers can access all your data in one go.

Strong and memorable passwords could keep hackers at bay

Instead of using personal information or common numbers and phrases in your passwords, make them as complex as you can. The NordPass research above states that your password should ideally be at least 20 characters long, consisting of a mix of:

• Uppercase and lowercase letters

• Numbers

• Special symbols.

It may also be wise to refrain from using information that would be easily guessed through social engineering, such as your birthday, the names of your family members, or your address.

Following these practices could give your password the greatest chance of holding off hackers for as long as possible. If you’re concerned about remembering your more complex passwords, the good news is that there are some ways you can easily recall them – read on to find out how.

“Passphrases” could allow you to set longer passwords that are easy to remember

Perhaps one of the best ways to include special characters in your passwords and still remember them is to replace some letters with other symbols that look similar.

Instead of using an “S” in your password, you could substitute this for a “$”, or an “8” instead of a “B”.

Even if you do follow this system, it’s still worth avoiding using common information or phrases, and you may want to try using “passphrases” instead.

These typically consist of a string of words made from common phrases, such as the lyrics to your favourite song or recipe ingredients.

They tend to be far easier to remember than random characters while still offering greater security thanks to their length.

There are several pieces of software that could help you remember and improve your passwords

Since it is wise to have different passwords for each of your accounts, this can make it incredibly difficult to remember them all, even if you use a passphrase.

To stay on top of your many passwords, you could use a password manager. This is an online database that allows you to store your passwords in a safe and secure location, and some examples of reputable password managers include NordPass and Dashlane.

If you use a password manager, you won’t have to remember all your passwords off the top of your head, allowing you to choose far more secure ones without having to worry about forgetting them.

While most phones and devices nowadays have built-in password managers, it may be worth using third-party software to offer your online accounts an extra layer of security.

In addition to password managers, you may want to consider using a strength checker. As the name implies, this tool allows you to assess the strength of your passwords, and some even offer suggestions for improvement.

It may be wise to set up an “in case of emergency” document

While you can deter scammers from accessing your digital assets with a strong password, it’s also wise to have a plan in place to help your loved ones access your accounts if you require temporary help managing them.

One of the ways you could help your family manage your digital affairs should you become incapacitated or pass away is by creating an “in case of emergency” (ICE) document.

This allows you to collect critical information, including details about your online accounts, that your loved ones may need in the event of an accident or unexpected death.

You can include the login details for your accounts, such as your social media, ensuring that your digital assets and legacy are managed by people you trust.

An ICE document may enable your friends or family to offer temporary assistance if you’re in the hospital for an extended period of time; it can also help to reduce the stress your family may experience during a bereavement.

You can download a free template of an ICE document from our website. Additionally, if you would like any further support organising your digital assets for the unexpected, then we can help.

Email theteam@fortitudefp.co.uk or call us on 01327 354321 to find out more.

Please note

This article is for general information only and does not constitute advice. The information is aimed at retail clients only.