Yes / Passwords are the most popular and constitute the first line of defence in computer-based security systems; despite the existence of more attack-resistant authentication schemes. In order to enhance password security, it is imperative to strike a balance between having enough rules to maintain good security and not having too many rules that would compel users to take evasive actions which would, in turn, compromise security. It is noted that the human factor is the most critical element in the security system for at least three possible reasons; it is the weakest link, the only factor that exercises initiatives, as well as the factor that transcends all the other elements of the entire system. This illustrates the significance of social engineering in security designs, and the fact that security is indeed a function of both technology and human factors; bearing in mind the fact that there can be no technical hacking in vacuum. This paper examines the current divergence among security engineers as regards the rules governing best practices in the use of passwords: should they be written down or memorized; changed frequently or remain permanent? It also attempts to elucidate the facts surrounding some of the myths associated with computer security. This paper posits that destitution of requisite balance between the factors of technology and factors of humanity is responsible for the purgatory posture of password security related problems. It is thus recommended that, in the handling of password security issues, human factors should be given priority over technological factors. The paper proposes the use of the (k, n)-Threshold Scheme, such as the Shamir’s secret-sharing scheme, to enhance the security of the password repository. This presupposes an inclination towards writing down the password: after all, Diamond, Platinum, Gold and Silver are not memorised; they are stored. / Petroleum Technology Development Fund