Cyber security experts are warning more than two-thirds of Australian companies could be open to cyber attacks due to poor password security.

The repeated use of the same passwords for multiple accounts and simple phrases can open anyone up to being hacked.

Zirillio’s Lawrence Patrick told Sofie Formica one password is being used more than 20 million times by people across the globe.

“What we find is that a lot of people don’t change their default password so ‘admin’ is actually the most commonly used password,” he said.

“[Hackers] know we get into patterns of laziness and a lot of times, we’re using a password that creates an opportunity for the hacker to simply gain your password by buying it from a stolen data set and reusing that across different services.”

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