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Why it’s important to update your passwords

Published: Feb. 14, 2022 at 4:36 PM EST
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RICHMOND, Va. (WWBT) - Would you abandon your online cart and drop everything you were buying if the store you were shopping at asked you to change your password? A new study says you would!

A recent study investigating consumer password use found 25% of online shoppers would abandon their carts of $100 if prompted to reset a password at checkout.

Nearly half - 48% of users - say it’s “very likely” they would abandon a website when told a new password cannot be the same as their old password, according to The Identity Theft Resource Center.

James Lee with The Identity Theft Resource Center says the study of more than a thousand consumers is eye-opening.

“What that tells us is we value convenience over security, and that’s a very dangerous proposition. But you know what? The bad guys know that, and they use that against us,” Lee said.

Lee said this shows why we all have a responsibility to be a little more cyber smart about protecting ourselves. We can’t prevent data breaches as individuals, but we can take away some of the punch that the bad guys can inflict if we just take some basic steps.

“Like, have a unique password on every single account. It’s a pain, but it’s not nearly as painful as having your identity stolen and your information compromised and misused,” Lee said.

There are password managers for your smartphone that help you keep track of them all, or you could just simply write them down in a book you keep at home. If you use the same password for all accounts and a hacker gets that information.

Copyright 2022 WWBT. All rights reserved.

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