The Specops Breached Password Report 2026 is a comprehensive analysis of over six billion malware-stolen passwords collected during the year 2025. This report outlines the trends and patterns associated with weak passwords, highlighting that eight-character passwords remain the most commonly stolen, with over 1.07 billion compromised. The report details the top credential-stealing malware, with LummaC2 identified as the most active, compromising over 60 million credentials. It documents the prevalence of predictable password structures, such as numeric sequences and commonly used terms like 'admin' and 'password.' The analysis emphasizes that credential abuse is a significant method for attackers to gain access to corporate environments, with identity-based attacks accounting for a notable percentage of intrusions. The report also discusses the limitations of traditional password policies and suggests that organizations need to continuously monitor for compromised passwords rather than relying solely on complexity requirements. Overall, it presents critical insights into the ongoing challenges of password security in enterprise settings.