Often if you use different exchanges (Poloniex, Bittrex etc.) and for example your hardware wallet you need different passwords. Many people choose to use 1 or 2 standard passwords often. This is of course not wise, especially when you are dealing with a substantial sum of money. When a hacker gets hold of your password and he tries the same password on your Bitcoin or Altcoin wallets (accounts), you can guess it. Then you have lost your hard-earned money. That is why we also give advice here: Choose as many different passwords as possible. Do you want to be sure of a strong password. Then use a password generator and save the password in a safe place (at home). The site r/kano.is http://kano.is/ guides you in these matters. Offline wallets such as the Ledger Nano S (used by Meester Bitcoin) and the Trezor wallet are a kind of well-protected USB sticks where you can write your digital currencies such as Bitcoins, Ethereums, Ripples etc. They are easy to set up and you have control over where you store them. You can of course also use well-secured online services such as Coinbase, or even leave your crypto coins on exchanges. We think the disadvantage is that you yourself are not ‘in control’ of your digital coins. If a service falls or is hacked, there is a chance that you will lose your investment in one fell swoop. From the site r/kano.is http://kano.is/ you will get all the supports and suggestions regarding all these.