Protect Your Bitcoin Wallet Passphrase!

by , under Financial

“Oh my gosh!” Yes, those were the words (actually, there were a few more that I said out loud in a fit of panic) I exclaimed the other day.

After writing about the jump in value of bitcoin a few days ago, I realized it had been sometime since I opened my Bitcoin wallet and it likely was way behind. For those who don’t understand, it actually has to “sync” up with the system (it’s a bit over my head to understand precisely what is going on), and this can take some time.

So, I opened it up and let it do it’s thing… and then realized I was not sure if I could remember my passphrase! So, I thought I would try to change the passphrase which requires knowing the present one. Every time I tried to type something in, I’d get an error message…

Oh brother! Now what? Not that I have a ton of value in the wallet, but what was I going to do if I could not remember what the passphrase was that I had originally set up?

It would be virtually impossible to crack my passphrase, after doing some research on the possibility. But… I read some good advice that went along the line of “Hey. Relax. Empty your mind. Then just put your mind in the position you were in when you created the passphrase originally.” After a few moments of realizing the world was not going to come to an end if I could not remember it, it suddenly did come back into my mind. I hoped.

So, I tried it. “Holy f***! It worked!” What a relief.

In this day and age, trying to remember all the different passwords we need for websites, applications, PGP, and… our bitcoin wallets, can be overwhelming. It’s pretty near impossible for most of us to remember them all.

So what do you guys do? I’ve thought about using a spreadsheet, but then I’d have to encrypt it to keep it safe, and make sure it was backed up. Paper records on the other hand, can also be insecure.

How do you handle “password hell?”

  1. Dave Roberts

    Haha.. yes, when you forget an important password, you realize how important it is to record them. Somewhere. I keep a written journal of them.

    Reply
  2. admin

    A journal would be a good idea I suppose Dave. But I can see it also getting messy when things change!

    Reply

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