Twitter attack shows the importance of using different passwords
If you use the same password on multiple accounts on the Web, the Twitter attack should serve as a wake-up call on why you should have different passwords for each account. Users created accounts on a file-sharing site which used the same password to access their account on Twitter.
As we reported earlier, Twitter is forcing users to change their passwords in the wake of a phishing attack. A phishing attack occurs when attackers set up a phony site and get users to log into it, thereby giving away their password.
In this case, the attackers lured Twitter users by setting up a phishing site that looked like a torrent or file-sharing site. The users were easily drawn in by the promise of free music or video downloads.
The biggest problem is that the users signed up for the fake file-sharing site using the same password as their Twitter account. This made it easy for the hacker to log into the Twitter accounts.
Using the same password for multiple sites can get you into hot water if just one of those sites is compromised. Then a hacker could potentially use the password to log into all of your online accounts using that password.
A study by Trusteer found that 73 percent of online banking users have another account where they use the same password. These users are jeopardizing not only their social networking accounts, they’re also risking their financial well-being.
In addition, 47 percent of users have the exact same login name and password on a financial site and others. This leaves your bank account a simple copy and paste away for hackers.
Ideally you should have a unique password for each Web site you use. If that’s not practical, at least use a different login and password for your financial accounts than your social networking or other sites that are much more likely to present a security risk.
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