In essence, leaked credentials jeopardize the security of other non-compromised accounts as well.

“Turn on multi-factor authentication everywhere possible, especially apps that move money.”

Securing an account with a password alone is known as single-factor authentication.

Someone logging into a laptop computer using two-factor authentication on their smartphone.

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He adds that users should consider investing in a password manager when it comes to passwords.

An illustration of a laptop and smartphone using two-factor authentication.

Mark Kolpakov / Getty Images