A passcode is a type of password that is structured as a specifically ordered sequence of words and is used to access a specific account, device, or system. Passwords are often easier to remember than random passwords because they are composed of individual, coherent words rather than an abstract string of letters, numbers, and symbols, though passwords offer a similar—and sometimes even higher—level of security when used properly. Passwords are commonly used in the blockchain industry as a security mechanism to help users protect their cryptocurrency assets by reducing the risk of account hacking and/or unauthorized third-party access.