If you're trying to come up with a good password, the word "password" is not a good option. It's No. 1 on SplashData's annual list of worst internet passwords.

The company provides apps for smartphones and ranked the worst passwords based on how common they are.

The Top 10 worst passwords are:       

1. password

2. 123456

3. 12345678

4. qwerty

5. abc123

6. monkey

7. 1234567

8. letmein

9. trustno1

10. dragon            

The worst passwords can be dangerous since they're easy for hackers to figure out.

Bank accounts, credit cards and identities are put at risk.

"If somebody is just out looking for anybody's password on the internet, they're going to try these real common things," said Jeff Farr, Farr Systems IT Strategist.

Farr said different passwords should be used for different sites and should be changed every changed three to six months.

He recommends online password manager sites as a safe way to keep track of multiple passwords. The sites also help generate new, creative passwords.