In today's world you need a password to access almost all of your on-line accounts. Our desire to remember dozens of passwords for different sites often results in the creation of a password that can easily be cracked by hackers.
So how do we develop a password that we can remember but cannot be stolen by the thieves?
First off, stay away from things like your pet's name or your daughter's birthday. Numbers and names that are common in your day-to-day life will be easy for criminals to guess. Try to come up with a series of letters and numbers, using both capital letters and smaller case letters within the password.
One strategy is to us a "passphrase" or a sentence that you can remember then replace each word in the phrase with its initial or similar digit or symbol.
For example, if your password is 1ltwb1ts", your passphrase may be "I Like To Watch Baseball In The Sun". In this case, you're using the number one for the letter "I" in the sentence, and initials for the rest of the words.
If you know there is now way you're going to remember your password, write a reminder somewhere and hide the paper. But be sure to write the phrase or hint, not the actual password.
For more information on this and other financial questions, visit BECU's collection of resources.