Prioritizing Password Safety

The first Thursday in May marks World Password Day—a time dedicated to raising awareness about the importance of password best practices and maintaining smart digital security habits. At MainStreet Bank, we believe that a secure community is a thriving community.

For our customers and local business owners, the first line of defense is often the simplest: your password. As a community-focused bank, we see firsthand how proactive security habits help protect your personal finances and business assets.

Today’s experts acknowledge that traditional passwords can be one of the weakest ways to secure your online information. Cybercriminals don’t always need to guess your password anymore; they can steal it through data breaches or “phishing” attacks by tricking you into giving them your login information.

Here are four key steps you can take to help thwart cybercriminals and protect your accounts:

1. Never Reuse Passwords

With seemingly every new account asking for a password, creating and remembering a secret code for each one can feel daunting. However, reusing passwords across multiple platforms is a major risk that can leave your accounts vulnerable if just one password is compromised. Treat every account as a unique lock that requires its own distinct key.

2. Use Strong Passphrases

When it comes to building a strong password, length is essential. While today’s high-speed computers can attempt to decrypt billions of passwords a second, simply making your password longer makes it exponentially harder to crack. A 2025 Hive Systems test found that a complex 5-character password could be decoded in just four hours. But by adding just three more characters, the time to guess skyrockets to 164 years.

That’s why experts recommend at least 16 characters in your password. Even better? Come up with a passphrase: a short phrase will be easier to remember but much harder to hack.

Remember to:

• Change default passwords.
• Never use easy-to-guess passwords like “password” or “12345”.
• Avoid easily found information like your birthday or a pet’s name.

3. Use a Password Manager

A 2023 Pew Research study found that almost 70% of Americans feel overwhelmed by the number of passwords they have to keep safe.

If creating unique passphrases for all your accounts starts to feel like too much, a secure password manager can be an invaluable tool to keep your login information safe. They can create completely random and complex passwords and remember them for you. It’s easier than remembering 100+ passphrases, and so much safer than your old sticky-note system.

4. Implement Multi-Factor Authentication (MFA)

You’ve now made your password as hard to guess as possible—but what if someone steals it? Data breaches and phishing attacks can expose your password to cybercriminals.

That’s where multi-factor authentication comes in. MFA uses something in your possession, like your phone, to secure your account. Sites will often send a secure code in a text or phone call to verify it’s you. Some will use your device’s biometric face scan features instead of a code.

Even if your password has been guessed or stolen, adding this one extra step can keep your account secure. In a 2023 Microsoft study, even when a password had been leaked, 99% of accounts were kept safe when they had multi-factor authentication enabled.

Our Commitment to Your Security

MainStreet Bank is more than just a place to keep your deposits; we are a partner in protecting your financial well-being. We are passionate about promoting cybersecurity because we know that keeping your data safe is critical to your peace of mind. This May, we invite you to join us in making password safety a priority. By strengthening your digital defenses, you’re building a safer foundation for a more secure future for your family and your business.

Want to learn more about how to keep yourself safe online? Check out our article Can You Spot a Phishing Scam? or head to our resources page for more industry advice.