Passwords serve as crucial access points to personal accounts, making robust password practices essential for online security. The Australian Signals Directorate (ASD) reported more than 87,000 instances of cybercrime during the 2023 financial year, averaging out to one report every six minutes. The National Australia Bank (NAB) offers guidance on maintaining strong password security.
Firstly, creating strong passwords is vital. This involves using passwords that are long and complex, with a mix of characters, ensuring they are unique to each account and not easily guessed. NAB suggests using passphrases, comprising four random words with special characters, as they are easier to remember and harder for criminals to break.
Changing passwords periodically can also safeguard accounts from unauthorized access. NAB advises setting reminders to thoroughly update passwords rather than making partial changes.
To handle multiple strong passwords, a password manager is recommended. This tool securely stores and generates passwords, requiring users to remember only a single master password.
Enabling two-factor authentication (2FA) provides an additional security layer by requiring a secondary verification form, such as a phone code or authentication app. This measure significantly lowers the risk of unauthorized account access.
Phishing scams, which attempt to steal passwords and sensitive data, present another threat. NAB cautions against clicking on suspicious email links or downloading unexpected attachments and warns that legitimate entities will never request passwords or personal details via email.
For additional password management tips, visit NAB’s website or their security hub at nab.com.au/security.