- Maintain a separate login and password for every site. This requires a lot of memorization and is a pain in the ass when you find yourself trying four passwords because you forgot which you used.
- Use password management software or a naming system that lets you keep track. This is effective but is a bit much for a majority of people who do not, and probably never will, use tools and reasoning to help them do things on their own volition.
- Use the same login and password almost everywhere. This is easy but is shitty security.
You might claim that using a third-party authenticator is just like option #3, but it's not. Option #3 above means that your single credentials are under the control of the least secure site you use them on, so if someone cracks some install of PHPBB version 0.0001 that you logged into, you're fucked. Using a third-party auth provider relieves you from this worry. It even means that you can switch at your leisure and start using a hardware generator or a long passphrase if the provider supports it.