World Password Day: 7 Tips to Prevent Password Breach

World Password Day is around the corner. This day is celebrated to spread awareness regarding effective password practices that drive efficient security. It is celebrated on the first Thursday of May, and this year, it is on the 2nd of May in 2024.

Let’s celebrate this day by checking every password and strengthening the layer of security with the right tips to prevent password breaches. According to reports, over 75% of individuals do not follow password-strengthening tips, leading to serious password breaches and cyber attacks. 

This is why World Password Day is celebrated to spread awareness regarding strengthening your password. We live in a world that surrounds a wide range of online attacks, and that’s where implementing strong password practices is essential, not just on password day but regularly. So, let's crack with the right tips to prevent password breaches.

Keep reading to explore World Password Day and crucial tips to prevent password breaches.

What is World Password Day?

World Password Day was first proposed by security expert Mark Burnett in his book Perfect Passwords, which encourages people to update their passwords regularly.

After eight years, Intel Security recommended that World Password Day be recognized on the first Thursday in May 2013. It's been going on since then.

It only takes one good password to save the day! Strong and savvy passwords protect you from corporate fraud, identity theft, and hacking.

Essential statistics on password breaches 

Here, we will cover a list of recent yet vital statistics to give you an idea of the negative impact of password breaches on personal and professional life:

• According to IBM, it says that password breaches lead to wiping off $4.45 million in revenue. 
   
• According to reports, more than 65% of individuals use the same password on multiple accounts with variations despite knowing that doing so can lead to password breaches. 
   
• According to GoodFirms, more than 36% of individuals usually change their password when prompted. 

7 Best Practices to Prevent Password Breach

1. Use Strong Password 

A strong password is the perfect strategy to prevent a password breach and defend against hackers gaining access to your account. Be sure to create passwords between 12 and 15 characters. You can create passwords that are difficult to predict with a mix of words, numbers, and special characters (for example !). These steps will strengthen your password and reduce the likelihood of being prone to online attacks.

2. Implement Multi-Factor Authentication

Adding multi-factor authentication (MFA) to your account adds another layer of security. A two-factor authentication ensures that an attacker must provide additional information if they manage to obtain your credentials. As a result, attackers are less likely to gain access to sensitive data, personal information, or financial information.

3. Remove Inactive Accounts

An inactive account has not been used for a long time or has been abandoned. Sometimes, these accounts may store sensitive information, such as credit card numbers and other payment information. A weak or reused password allows hackers or cybercriminals to easily compromise these accounts. Removing inactive accounts can protect your personal information from hackers or unauthorized access.

4. Keep Track of Service Accounts

A service account is a non-human user account created to automate processes, exchange data, or enable data exchange between servers within an organization. These accounts can have privileged access to sensitive information, making them attractive targets. Keeping track of and securing your service accounts is crucial to preventing password compromises.

5. Update Passwords Regularly

To maintain password security, password rotation is a regular process of changing passwords. It is essential to regularly change passwords to ensure that even if one is compromised, it will only last for a limited amount of time. Keep your passwords up to date every three to six months or more frequently when you suspect they have been compromised. In addition, do not reuse old passwords, making cracking them easier for attackers.

6. Use Password Manager 

Password manager is the ultimate solution for protecting your password from hackers or cybercriminals. Implementing a password manager into your password-strengthening practices is an ideal way to improve security and streamline password management. The password manager securely stores your login information under an encrypted vault that uses a biometric fingerprint or master password for access. 

Password managers offer password generators to help you create more robust, unique passwords. They should also support cross-platform platforms, ensuring seamless access across multiple devices.

7. Put in place a Secure Password Recovery Protocol

The password recovery mechanism can be compromised by hackers to gain unauthorized access to accounts. Establish secure password recovery protocols requiring account owners to verify their identity before granting access. 

There are various methods for securing your identity, including security questions, verification codes sent to your registered email address or phone number, CAPTCHAs, or other steps you can take to protect your personal information. Increasing password recovery processes reduces the possibility of unauthorized access.

After the cybersecurity awareness, more than 80% of users started using strong passwords, which reduced the risk of cyber attacks. Users even stopped using common passwords, which was the prime reason for severe attacks on businesses and individuals. Get the cybersecurity awareness right, implement the right tips, and feel secure preventing data breaches. 

There can be no better day than World Password Day to take the right steps to prevent a password breach. If you follow these password-safeguarding best practices, your defense against hacks will be stronger.

If you land into cyber threats, Heritage Cyber World is your go-to defense partner, offering perfect solutions to protect your data and business. At Heritage Cyber World, we have a team of security experts offering cybersecurity consulting services to guide you with the best tips and protect you from online attacks. Our team will help pitch the best password management practices to ensure your account stays protected from any breach. Contact us today and rest assured while we take the security to the next level.