Preventing Account Lockout on NetBanking Sites

Too much security can sometimes lead to other types of problems. This is what I have been facing when the Online Trading site of HDFC Securities changed its policy of changing passwords every 14 days. 30 days of password age is acceptable, but 14 days !!!... thats too less of a time in a world surrounded by PINs & Passwords. But, I have no option, have to accept it. But what happens with this is I frequently forget the sites' password as the password complexity rules are also too complex - to be changed in 14 days, alphanumeric with at least 1 character in upper case & last but not the least, TO BE DIFFERENT FROM LAST 5 PASSWORDS. So I had to device a way to recollect the password in case I forget it.

8 Tips to password recovery in an Online NetBanking site -

1. Keep your head cool. Forgetting a password is not the end of your world.
2. Start the recovery procedure with a fresh mind.
3. Keep a pen & paper handy.
4. Make yourself aware about how many attempts you are allowed to try your luck before your account gets locked.
5. Don't try the maximum possible attempts at a stretch. So if you allowed 10 attempts, try your luck with 6 attempts & then give a break of at least a couple of hours before attempting again. Remember, the maximum number of attempts specified in any site is for a single session, so if you try again after an hour or so, it is considered as a separate session & thus you don't exhaust all your options.
6. After each unsuccessful attempt write down the password that you attempted. This is to prevent repetition of incorrect passwords.
7. Last but not the least, pray to god & try your level best to recollect your forgotten password.
8. Once you recover your password use a Password Management application like Access Manager to store your critical passwords in a secure place.

I must say this is the way I tried my luck & was successful in recollecting back my password. If I would have not recollected the password successfully, I had no option but to give an application to my Banking Service Provider to reissue a fresh password via Snail Mail, a process which would have taken at least a week or so.