Strengthen your business security with effective password strategies.

Your business may be protected by firewalls, encryption, and top-tier cyber security tools. But there’s one small detail that could undo all of it, a password that’s far too easy to crack. Password security is an often overlooked security staple that cybercriminals love to target. And if you’ve already got basic password security in place, it’s time to go beyond and level up.

You wouldn't lock your office door each night and leave the windows open. Yet, that’s what weak or reused passwords could be doing to your business, giving cybercriminals an easy way in.

It’s tempting to think password security is just another item on the checklist, but often, it’s these basic security steps that get overlooked, opening the door to vulnerabilities that cybercriminals are quick to exploit.

We reveal common password mistakes, why password security is more important than ever, and how ignoring these issues can leave you vulnerable. We’ll also help you look at how secure your passwords really are, strategies to stay ahead of cybercriminals, tools to lock down your data, and a downloadable checklist to ensure your passwords are as airtight as possible.

Find out why password security could be a risk to your business.

What are secure passwords?

Password security isn’t just having a different password for different accounts. It’s your first line of defence against unauthorised access to sensitive data, financial information, and personal details.

So, how secure is your password? If it’s easy to remember, it’s probably easy to steal. Secure passwords go beyond convenience. They’re a combination of complexity, unpredictability, and strength. A strong password is random, hard to reproduce, and impossible to guess.

A good password typically includes a mix of letters, numbers, and symbols, ideally something that isn’t connected to your personal life (like pet names or birthdays). It might seem basic, but it’s surprising how many businesses still rely on weak passwords to protect valuable data. According to a 2022 survey, around 81% of data breaches were due to weak or stolen passwords.

A strong password is random, hard to reproduce, and impossible to guess. Think ‘C4@8oF&k2P9!'. Yes, it’s hard to remember, but that’s the point. Simple and predictable passwords like ‘Business2024’ or ‘Sara1234’ are what cybercriminals dream of.

Want to know how secure your current passwords are? A secure password checker can instantly evaluate how strong they are.

What makes a password strong?

A strong password is built from a few key elements:

Mix of upper and lowercase letters. The more variation, the more challenging to crack.

Combining letters, numbers and special characters. Brute force attacks are where cybercriminals systematically try combinations of letters, numbers, and symbols until they get it right. The more you add, the tougher and more time-consuming it is for them.

Avoid personal info. Don’t use your pet’s name, partner’s name, or special dates like birthdays or anniversaries. They’re all too easy to find on social media.

The best example of a secure password? Something like 'Zt7!xL#9kW3%' Random, unpredictable, and unrelated to anything in your life. It might look like gibberish, but that’s exactly what makes it secure.

Common password mistakes

Password security often slips to the bottom of many businesses' to-do lists. We know it matters, but with so much going on, it’s tempting to take shortcuts. But common mistakes can turn into major security risks.

1. Reusing passwords

This is one of the most common mistakes. People often use the same password across multiple platforms because it’s easier, but it can create a domino effect. If one account is compromised, they’re all at risk.

2. Easy-to-guess passwords

Passwords like ‘123456’, ‘password’ or simple placeholders like ‘9999’ are still surprisingly common, and an open invitation to stroll right in.

3. Passwords linked to personal information

It’s tempting to use your dog’s name or your favourite sports team, but cybercriminals know this too. With a quick scan of social media, they can gather personal information that might help them crack weak passwords.

4. Sharing passwords

In busy workplaces, people may share passwords for project management software or team apps. While it might seem like a quick fix, sharing passwords over email or chat can expose your business to unwanted access or interception.

Read our guide to safe password sharing.

What are the risks of compromised passwords?

If you’re wondering: "What’s the worst that can happen?” The truth is, a lot.

Unauthorised access

Once inside your systems, a cybercriminal can tamper with data, steal sensitive information, or even disrupt your entire business operation.

Identity theft

With a stolen password, cybercriminals can impersonate your employees, giving them access to even more data, or worse, committing fraud in your company’s name.

Financial loss

Access to your financial records can result in fraudulent transactions, draining accounts and potentially causing long-term damage.

Data breaches

A breach exposing customer or business data can cause legal nightmares, regulatory fines, and financial losses that can devastate a business.

Reputational damage

Once a breach becomes public knowledge, it’s hard to regain trust. Clients and partners may lose confidence in your ability to protect their information, impacting your reputation for years.

The importance of password security

Password security is about building a secure foundation for your business’s future and protecting yourself against ever-changing cyber threats.

With cyber threats evolving every day, poor password security can lead to data breaches, financial losses, and a shattered reputation.

By prioritising password security, enforcing strict policies, and educating your employees, you can significantly reduce the risk to your business.

Tips for password security

Basic password security is nowhere near enough in today’s sophisticated threat landscape. Here’s how you can truly lock down your business:

Password generators

Stop trying to come up with passwords on your own and let a generator do the heavy lifting. A password generator creates random, complex passwords that are far more secure than anything you could think of.

Password managers

What are password managers? A secure password manager stores all your passwords in one encrypted location, eliminating any need for sticky notes or spreadsheets. It’s the easiest way to ensure every password is strong and unique. Here are more insights on password managers for businesses, including some great password managers to consider.

Multi-factor authentication

Even the strongest password can sometimes be compromised, especially if you use it with third-party sites whose security isn’t quite up to scratch. MFA requires an extra security layer like a text message code, fingerprint scan or authentication app like Microsoft Authenticator, so it’s harder for cybercriminals to break in.

Safely share passwords

Sharing passwords might seem like a quick fix for accessing team tools or software, but it can be risky. Once a password is passed around, whether over email, chat or verbally, you can lose control. And if one account gets compromised, it can affect multiple users. Here’s our guide to sharing passwords safely. Alternatively, you could also ensure everyone has a unique password or introduce restricted role-based access.

Regular updates

Even the best password shouldn’t be relied on forever. Make sure you’re updating passwords regularly, and certainly after a potential breach. A policy that enforces regular updates, say, every 60 to 90 days, can reduce the risk of exposure.

How to create a strong password

Ready to create a password that stands up to today’s cyber threats?

Download our detailed step-by-step checklist below.

Securing your business means more than just choosing a strong password. It’s about building a strategy that includes advanced tools and best practice.

As cybercriminals continue to probe our defences, it’s essential to ensure the humble password isn’t forgotten in the dizzying array of cyber security tech.

Want to find out more about making bulletproof passwords? Chat to our V-Hub advisers today for 1-2-1 advice.