Why Is Password Security Important?
Not having secure passwords has its consequences, which include but are not limited to:
- After gaining access to a user’s credentials, many hackers will log into their accounts to steal more of their personally identifiable information (PII) like their names, addresses, and bank account information. They will use this information either to steal money from the user directly or to steal their identity. Identity theft can result in further financial losses or difficulty getting loans or employment.
- Lack of privacy
- For businesses, hackers can start disinformation campaigns against companies, sharing their data with competitors and storing it for a ransom.