This below video shows just how easy it is to crack passwords with free software that is easily downloaded. It also shows the impact of using complex passwords.
Passwords are usually stored in a database in a hashed format. Hackers stole 6.5 million hashed passwords from LinkedIn in 2012. How hard was it to crack the passwords? Keep this in mind: a hashed lowercase passwords 6 characters or less takes only 30 seconds to crack! Complex passwords can take much longer.

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monkey = 30 seconds to crack
m0nkey = 3 minutes to crack
M0nkey = 1.5 hours to crack
M0^key = ~5 hours to crack
M0^keyh@t$ = 18,000 years to crack