Weak Passwords: The Silent Threat to Your Business

In today’s digital world, the average internet user manages over a dozen personal accounts, often alongside multiple work accounts. Each account holds sensitive information, usually protected by user-created passwords. Unfortunately, millions rely on weak, easily guessable passwords, often reusing them across platforms, making them vulnerable to cyberattacks. Even strong passwords can be compromised, yet most people rarely update them.

To understand the current state of password security, explore the latest statistics and see how poor password habits are putting both consumers and businesses at risk.

Top Password Statistics

• 30% of internet users have experienced a data breach due to weak passwords. A significant number of users fall victim to data breaches because of easily guessable or weak passwords. In fact, 30% of users, including IT professionals, have reported such breaches. Weak passwords often include simple patterns or personal information that can be cracked within minutes.
• Two-thirds of Americans reuse passwords across multiple accounts. The habit of reusing passwords significantly increases the risk of data breaches. If one account is compromised, it opens the door for attackers to access other accounts where the same password is used.
• The most commonly used password is “123456.” Despite the widespread knowledge of password best practices, weak passwords like “123456” remain the most commonly used, according to a study analyzing billions of passwords found in public data breaches. Other popular weak passwords include “password” and “123456789.”
• 59% of US adults use birthdays or names in their passwords. Using easily identifiable information, such as birthdays or names, makes passwords more vulnerable to hacking. This practice, combined with the reuse of passwords, significantly increases the risk of unauthorised access.
• 13% of Americans use the same password for every account. A concerning number of users employ the same password for all their accounts. This practice puts all their accounts at risk if just one password is compromised.

Password Habit Statistics

With the increasing number of devices, apps, and online services, managing a growing list of passwords can be challenging. This often leads to poor password habits, such as reusing passwords or creating weak ones, which can compromise security

“3 in 10 users have been victims of data breaches due to weak passwords” – Goodfirms

Weak passwords are short, easy to guess, or can be cracked in minutes using methods like credential stuffing. GoodFirms’ survey found that 30% of respondents — all IT professionals — experienced a data breach because of a weak password. An additional 23% were unsure whether they were involved in a data breach.

Weak Password Statistics

A strong password typically contains at least 8 characters, with a mix of letters, numbers, and symbols, and avoids using personal information. However, despite this common knowledge, weak passwords remain prevalent. For example, Cybernews analysed over 15 billion passwords found in public data breaches. The most common passwords were startlingly weak. The top 10 were:

1. 123456
2. 123456789
3. qwerty
4. password
5. 12345
6. qwerty123
7. 1q2w3e
8. 12345678
9. 111111
10. 1234567890

MFA and Passwordless Security Statistics

With the increasing frequency of data breaches, many organisations are turning to multi-factor authentication (MFA) and passwordless security to enhance protection. MFA requires users to provide additional verification, such as a one-time code, along with their password. However, some users find this process disruptive. Despite this, the passwordless authentication market is growing rapidly, with projections indicating it could reach $53 billion by 2030. Many IT professionals recognize the importance of moving toward a passwordless infrastructure to improve security, although password use remains widespread.

Conclusion

Passwords are still a key component of our digital security, but weak password practices put data at significant risk. Until MFA and passwordless security methods become standard, using strong, unique passwords and regularly updating them is crucial for protecting sensitive information.

Are you looking to tighten up your IT security? Contact us today to speak to our friendly team of specialists

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