Even though a strong password may deter people from attempting to break into your device, the breach is not performed by humans. Passwords require us to remember them, which means that, given sufficient time, most computers can figure them out.

It doesn't matter how clever you think your password is, computers and their powerful algorithms can guess thousands of possible letter and number combinations in seconds using brute-force tactics. For most fraudsters, an easy-to-guess password represents the lowest-hanging fruit. There are several other ways by which they can get their hands on it, and the rest of your accounts and assets from there.

Phishing emails are designed to look like those sent by legitimate institutions and may urge you to change your password or install keylogging software that monitors your keystrokes. They're all designed to capture your password, regardless of how they do it, and then follow a breadcrumb trail to your other sensitive data. People are certainly at risk from this, but the risk is even greater for business enterprises that still use passwords for workstations.

When it comes to passwords, the problem is that they still exist. Until a short time ago, there were few alternatives, but blockchain was beginning to show signs of maturity.

Passwords alone do not make a blockchain more secure. Blockchain security primarily relies on cryptographic techniques and consensus mechanisms, such as proof of work or proof of stake. These ensure data integrity and prevent unauthorized alterations. While passwords are essential for securing individual accounts or wallets, they do not enhance the inherent security of the blockchain itself. Protecting private keys with strong passwords can prevent unauthorized access to personal assets, but the overall blockchain network's security is maintained through decentralized verification processes and encryption, not through password protection.