Password Protection Strategies
We all know that the more complicated a password is, the better. They should include a mixture of numbers, punctuation marks, symbols, and uppercase and lowercase letters. But are these precautions enough to keep your digital information safe?
Twitter, Yahoo, and LinkedIn have all fallen prey to online attackers. Stolen passwords are scrambled for security, but this offers little comfort when computer programs can make millions of guesses in just a few hours. Because most passwords are based on words in a dictionary combined with a number or symbol, it can take these sophisticated programs even less time to hack them.1,2
The end result is that common password policies don't prevent the theft of many users' passwords, which feeds a large and organized criminal market for stolen credentials. Believe it or not, stolen passwords can fetch big money on the black market.3
So, what does that mean to you? It means that every password you’ve created is a valuable and vulnerable commodity worth protecting.
To do so, you should go a step beyond choosing passwords that are hard for a human to guess. Your passwords need to also be difficult for a computer to figure out. Here are some tips.
Favor Length Over Complexity
Longer passwords are more difficult to crack. A minimum of 16 characters is recommended. Consider stringing together the first couple letters of a favorite movie quote, song lyric, or poem. Longer passwords are more difficult to crack. For extra-sensitive accounts, change your password right away if the service reports a breach — current federal guidance advises against changing on a fixed schedule, since that tends to produce predictable variations. If you like the idea of optimal password protection but worry you won't be able to handle many unique passwords, password managers can help you organize, store, and use them safely.4
No Plain English
Simple strings of numbers, along with passwords that can be found in the dictionary, are the easiest to crack. A strong password should contain one or more uppercase and lowercase characters, numbers, symbols, and even unicode characters.
Mix It Up
Many people use the same password for multiple accounts because it’s easier to remember. But this could lead to serious consequences. You may not be too concerned about the personal information stored in your LinkedIn or Twitter accounts, but what would happen if hackers used your compromised password to access your email, brokerage, or bank accounts? If you have trouble remembering multiple passwords, you may want to keep a list on your computer, but don’t store it on your desktop or in your inbox. Give the file a misleading name and bury it in a folder where only you can find it.
There’s no such thing as an impregnable password. Still, putting personal information behind a basic password is like leaving your Porsche in a parking lot with your keys on the dash. By taking preventative measures to strengthen your password, you may be able to help safeguard your sensitive personal data and your privacy.
1. UpGuard.com, August 5, 2026
2. CyberNews.com, August 18, 2026
3. Verizon.com, 2026
4. StaySafeOnline.com, February 25, 2026
The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG Suite is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright FMG Suite.
