What is the commonly accepted best practice for password management?

Utilizing complex passwords and two-factor authentication is considered the best practice for password management because it significantly enhances security. Complex passwords that include a mix of upper and lower case letters, numbers, and special characters are more resistant to brute-force attacks, making them harder for unauthorized users to guess or crack.

Two-factor authentication (2FA) adds an additional layer of security by requiring not only a password but also a second form of verification, such as a code sent to a mobile device or an authentication app. This means that even if a password is compromised, the attacker would still need access to the second factor to gain entry, greatly reducing the risk of unauthorized access to accounts.

In contrast, changing passwords once a year does not provide adequate security in a fast-evolving cyber threat landscape, as attackers can exploit compromised passwords long before they might be changed. Using easily memorable passwords can lead to weak passwords that are more susceptible to guessing. Reusing passwords across multiple accounts increases risk, since if one account is compromised, all associated accounts become vulnerable. Therefore, adopting complex passwords alongside two-factor authentication is the most robust approach to password security.