If you use the same password everywhere, you have *a lot* of single entries rather than just one. If any poorly designed site gets hacked and your password is leaked, the attacker can access your other accounts, even on better-secured sites.
So in this case, a single point of entry is a good thing. It reduces your *attack surface*–the amount of things that can go wrong. You only have to protect and remember one password, rather than one for every site.
Also, remember that there’s another single point of failure: email. If an attacker can access your email, they can “Forgot Password” the other sites you use. That’s why it’s especially important to keep your email password secure.
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