According to a recent article in the Journal of Accountancy, passwords continue to be a major security risk. SplashData’s report compiling millions of leaked passwords has found that since 2011 the most frequently used passwords are “123456” and “password”. In addition to using weak passwords people often use the same one for everything. This obviously puts other systems one uses at risk. Further, audits of IT systems security find passwords written down in all sorts of places and unsecured password documents stored in employee computers and mobile devices.
Managing a lot of different passwords can be a daunting task. Some advisors suggest you may want to consider a password manager that securely stores your passwords for various sites. This way you only need to remember only the STRONG password you create to access the password manager. Just search online and you will find several options.
One CPA has devised a standard approach to organizing all his passwords. He starts with his first old ten-digit phone number, followed by the name of the account (i.e. Delta, Amazon, etc.) and ending with a four-digit personal identification number (PIN). This results in a strong password and you only have to remember the PIN.
With a little creativity, one could create a similar organized system to manage what for many has become an overwhelming challenge.