The list of the most used passwords of 2014, made up of very predictable combinations, illustrates the inherent limitations of the username/password system and lax security habits that endanger consumers’ valuable digital assets. In Intercede’s study The Rise of the Identity Centric Economy, these poor habits were painfully illustrated, with 60% of UK consumers and 52% of US consumers confirming they only used passwords they could ‘remember’. This implies these passwords are basic combinations which are likely to be used as credentials to access a number of websites, online accounts and devices.
Even with the widespread security breaches we saw in 2014 – dubbed the year of the hack– it appears consumers have continued to expose themselves to criminals through their use of weak security measures. This only goes to confirm passwords are simply not up to the task of securing people’s digital assets in the modern world.