A compromised password puts your personal information at risk and can lead to online identity theft.
A password is frequently the only thing that keeps web fraudsters from utilizing your personal information to commit online identity theft. They can perform an account takeover and do you considerable financial harm if they have access to your information. You must have strong password protection to ensure that they do not succeed.
Here are four reasons why every password is important.
Passwords allow you to access your personal information online
Many internet accounts require us to enter personal information such as our full name, home address, phone number, and credit card number in order to function effectively.
Criminals can access all of the information in your online account if they have the correct password. And these facts are frequently all that is required to commit identity theft.
A reused password endangers all profiles on which it is used
The majority of users use the same password across several profiles. If a hacker obtains your password, they will attempt to access profiles that include credit card information, such as Amazon, eBay, Netflix, and so on.
If you reuse passwords, a seemingly insignificant profile being accessed is no laughing matter. Using distinct and secure passwords on each profile reduces the impact of a data compromise to a single account.
You are not the only one who has access to your credentials
Almost certainly, no one else knows your password. However, when you create an online account, the password is saved in the database of the service provider, not on your own device. Unfortunately, you cannot prevent a breach of the service provider’s system.
When an internet service you use is compromised, the password you use to access the service is compromised. And new data breaches occur on a regular basis.
Passwords can be stolen in a variety of ways
In addition to data breaches, spyware can steal credentials from your device. Criminals can also employ phishing scams, public Wi-Fi networks, and other methods to mislead you into providing your credentials.
Many accounts contain sensitive personal information that might be used to commit identity theft. Each of your accounts must be protected with a unique key in order to be secure. When one password is compromised, the others are protected, and the danger of becoming an identity theft victim is significantly reduced. That is why every password is important.