6 Account Security
Passwords and Keys
When you create your Steem account you will be given a randomly generated 32 digit ‘master password’, which you will need to use to access your account. While you can change this password, you can only change it to another randomly generated 32 digit figure, you cannot ‘choose’ your own password on Steem.
In one way this makes Steem a very secure system, because there is almost no chance that someone else is going to be able to access your account from a separate device by guessing your password.
The FAQ section of the Steemit website recommends that you make a copy of this master password, ideally on a separate flash drive and a printed copy stored in a fireproof safe or security deposit box.
Please note that there is no way to recover your account or the funds in it if you lose your master password. You absolutely must keep this safe, and the best way to do this is to never save your password in your browser and to save your keys in a password protected app or document.
In addition to your master password, you will also receive a number of different ‘keys’ which you will allow you to perform various tasks across the Steem blockchain without having to continually enter your master password, which adds a further layer of security to the system. Wherever possible, you should not use your password key to login, but instead use the keys below, depending on the task you are logging in to perform.
Your posting key allows you to post, comment and vote across the various different dapps on the Steem blockchain – say you want to upload a video to @Dtube, you will be asked to enter your ‘posting key’
Your active key is what you use to make transfers of funds from one account to another, or to pay for certain goods and services on the blockchain, for example buying @steemmonsters cards.
Your memo key is designed for encrypting and decrypting your messages within an upcoming messaging system on the steem blockchain.
Finally, your owner key can be used to recover all other keys, and can be used to recover a compromised account. As with your master password, you should store this offline.
You can access these keys via the permission section of your Steem wallet.