09 Aug 2023
Are you worried about the security of your global money transfer? Every expatriate worker has a wealth of private information stored in online accounts that they want to keep safe. However, the majority of it is secured by pretty weak passwords. The solution should be to create a strong password that can never be cracked. But as everyone knows, there is a fine line to walk when deciding on a password that is difficult for others to guess and simple for you to remember.
Fortunately, many approaches and suggestions exist for developing strong passwords, such as using a special password generator tool. Here, let's review some pointers and tricks for picking and configuring safe passwords for your online accounts. You will also learn some incredible techniques for keeping your passwords secure and ways to make sure you never have to click the "Forgot password" link again.
You can't guess or break a strong password using a brute force attack. In order to find the best password, hackers use computers to test different combinations of letters, numbers, and symbols. Modern computers can quickly decipher short passwords made only of letters and numbers.
So, upper- and lowercase letters, numbers, and special symbols like punctuation are used in combination to create strong passwords. They must have a minimum of 12 characters, though we advise choosing one with more. Overall, the following traits make a good, secure password:
There will frequently be prompts when you create an online account that asks you to enter a certain number of characters or numbers. Some programs might even stop you from making a "weak password," which is typically a single word or number combination that is simple to crack.
By using more complex passwords than just one or two words that are simple to guess, you can thwart dictionary attacks. Long passphrases that are extremely resistant to dictionary attacks and traditional brute force attempts are made by stringing together several words.
Ensure there is no obvious connection between the words when developing a passphrase. Although password-cracking software can infer words with similar meanings, it will be baffled by random words.
Utilising sophisticated password-cracking software to test different combinations of numbers, letters, and symbols for your credentials is one method by which hackers try to guess passwords. For shorter passwords, it's a fairly reliable hacking method, though it can take a lot of computing power to execute.
A computer will have to make more attempts to guess your password the more strange symbols, like “@$%”, it contains. Additionally, some websites or online money transfer apps have features that prevent multiple password tries. As a result, the more complex your password, the more likely it is that you will be locked out before a hacker's software guesses the correct code.
Using the same password across numerous accounts is simple and practical. The convenience of reusing passwords can make you more vulnerable to fraud and cause more damage exponentially if an account is compromised. Never use the same password across multiple accounts; it's bad to practice.
Using the same password for multiple accounts gives hackers access to your personally identifiable information. Cybercriminals can easily hack into all accounts and obtain personally identifiable information for unlawful purposes, for instance, if malware only saves information about a Gmail account but the same password is used on numerous sensitive websites, such as an online banking or retail site.
The majority of services demand passwords with at least eight characters. Users will require more characters for a password to be truly secure. The longer the password, the more difficult it is to crack and the longer it takes.
The traditional eight-character password is no longer used. As with everything in the world of technology, password-cracking software has gotten faster. Some programs claim to be able to make 350 billion guesses per second, meaning they can break an eight-character password in a matter of seconds. Experts now advise passwords with at least 13 to 20 characters to help users protect themselves.
Because of your social media presence and other online data, a hacker can easily figure out your passwords if they are based on personal information like your pet's name, your place of employment, or your hometown. Even people familiar with you could attempt to use this method to access one of your accounts. Don't set your birth date if you're creating a password for your money transfer account.
If you use this advice, not even hackers with your passwords will have easy access to your accounts. In order to use two-factor authentication, you must both have and know your password (a phone with a code, for instance).
A good illustration of this is the two-factor authentication feature in Gmail, which, after you enter your password, sends a code to your phone that you must enter to access your email. This presents a significant obstacle unless thieves have obtained both your password and your phone.
Although it's crucial to keep your online banking passwords secure, follow some security precautions to secure your account. All bad habits can be changed. You can feel secure knowing that your bank is taking security precautions to safeguard your information while you keep your account secure with a strong password.
When you're not home, the only thing burglars have to get past is your password, just like the lock on your apartment door. A weak password functions as a weak lock. This significantly increases the number of people who can access your accounts. As a starting point for enhancing your security, use all the tips in this article to develop reliable, memorable passwords. Additionally, ACE Money Transfer is the best option to send money abroad securely.
What constitutes a strong password, and why is it necessary?
A strong password typically includes a mix of uppercase and lowercase letters, numbers, and special symbols, making it difficult to guess or crack using brute-force attacks. It's essential to create strong passwords to protect personal information, financial data, and other sensitive details from unauthorised access and cyber threats.
How long should a strong password be?
A strong password should ideally be at least 12 characters long. Longer passwords tend to be more secure because they take significantly more time and effort to crack. However, the complexity and randomness of the characters used are equally important to ensure the password's strength.
Is it safe to use the same strong password across multiple accounts?
No, it is not recommended to use the same password across multiple accounts, even if it is strong. If one account gets compromised, all other accounts using the same password are at risk. It's best to use a unique and strong password for each account to minimise potential risks.
Should I use a password manager to keep track of my strong passwords? What are the risks and benefits?
Password managers can be a helpful tool to store and manage strong passwords. They encrypt and store passwords securely, enabling you to create and use complex passwords without needing to remember them all. The primary risk is if the password manager itself gets compromised, but reputable password managers use robust security measures to minimise this risk. Regularly updating the password manager and maintaining a strong master password are essential practices.
How often should I change my strong passwords?
It's advisable to change strong passwords periodically, especially for sensitive accounts like banking and email. However, changing passwords too frequently can lead to weaker password choices. A good practice is to update passwords when there's a suspected breach or compromise or at regular intervals, such as every six months to a year, depending on the nature of the account and the information it protects.