Use your university password for only your university accounts
It is annoying to have to remember multiple passwords for all of the different sites and services we use – our bank, email, social media sites etc. – which is why it is so tempting to use the same password in multiple locations.
If you used that password for multiple services and it was somehow compromised by a fraudulent email message for example, a cyber criminal would have access to all of your accounts. That is a big risk to take.
On the other hand, using a unique password for each account means that even in the event of a data breach in one of the services you use, your other accounts would be safe.