Nowadays, most users need more passwords than they can handle. Consequently, users have developed a multitude of strategies to cope with this situation. Some of these coping strategies are based on misconceptions about password security. In such cases, the users are unaware of their insecure password practices. Addressing the misconceptions is vital in order to decrease insecure coping strategies. We conducted a systematic literature review with the goal to provide an overview of the misconceptions about password security. Our literature review revealed that misconceptions exist in basically all aspects of password security. Furthermore, we developed interventions to address these misconceptions. Then, we evaluated the interventions’ effectiveness in decreasing the misconceptions at three small and medium sized enterprises (SME). Our results show that the interventions decrease the overall prevalence of misconceptions significantly in the participating employees.