The sad truth is that not everyone is honest behind a computer. Some people will try to hack into social media accounts, credit card accounts, or really almost type of account for financial or personal reasons. Most corporate software will prompt you to change your password on a regular basis, but this is not necessarily so for websites, financial, or social media sites. Since it is not uncommon to have access to a dozen or more electronic accounts some people tend to use the same or very similar passwords for each account. Once someone knows one password, it becomes that much easier to guess passwords for other accounts.
There are many apps that will generate a random password for you, but the problem often becomes how do I remember 134%rtABG along with each of my other passwords, especially if an account is not used on a regular basis. One site "Passwordsgenerator.net" will allow you to customize a random password and provide a memory aid.
One other option is to consider purchasing a travel guide to a foreign language. This should be a language that you do not normally speak. Of course, using google you can also find free sites such as "Freetranslation.com" that will also translate one language into another. For example: 'My new password' can become 'mon nouveau mot de passe' in French.
This does not mean that you can't have fun with this. Suppose you are into Star Trek and want to translate your password into Klingon. Yes... you can go on line and translate 'password' into the Klingon equivalent 'Mu'wlj'. There is nothing to say that you can not add a few random numbers into your password for good measure. If you wanted to stay with the English language and were a Star Wars fan, you could always combine characters out of the movies such as 'LeiaWookie01' for an unusual password.
Obviously stay away from things that are very familiar to you such as your or families birthdate, SS#, address, pets names, etc. These are very easy to guess, and when a hacker has one, he/she may have access to several of your accounts. If you write down your password, don't carry a printed list in your wallet or purse. If stolen or lost, the thief has a treasure trove of information. There are also several programs that may encrypt your passwords on your phone or tablet should you choose to go that route.
If you are hacked, report it to the company or site that has been compromised. Chances are good that you are not the only person the hacker has attacked. In some cases, law enforcement event at the federal level may need to be notified.