When creating accounts online – banking or otherwise – it is recommended that you create a strong password that is difficult to crack or guess. A strong password should aim to be 12 characters, contain numbers, symbols, capital letters, and lower-case letters. It should not be a word you can find in a dictionary, and it should not be obvious to someone who has had a conversation with you. It should be complex and hard to remember; provided below is a way to decide on a new password.
How do you decide on a password?
- Start with a phrase. (not one word, but a sentence), for example this quote from Evelyn Waugh: "Punctuality is the virtue of the bored"
- Now combine to one word. PunctualityistheVirtueoftheBored
- Remove some letters. PunctistVotBored
- Replace some letters with numbers and symbols. Punct!$tV0tB0r3d
- Now you have a 16 character complex password.
How do you remember a strong password?
If you are not accustomed to it, it can be difficult to remember multiple complex passwords. In order to help keep track of them, there are password manager programs- some are paid, such as Dashline 4, LastPass, or Zoho Vault, but there are also free options. Unfortunately, the free options do not offer the same features. LastPass (for example) offers the option to import passwords from your internet browser, has a portable edition, and offers two-factor authentication.
Password Managers encrypt and store passwords for various accounts such as (G-Mail, SVB Private account, Facebook, Health Insurance Company, etc). In order to view your passwords, you only need remember one (very strong) password.
Writing the password down in a book you keep by your computer does not count. That is not a recommended practice.