Use a mix of different character types

Lower- and upper-case letters, numbers, symbols, pipes, brackets, etc. As with the number of characters allowed, many websites and services limit the types of characters you can use in a password (typically, to lower- and upper-case letters, and numbers, or to 'typable' characters - e.g. no smiley faces).

Use random strings of characters

e.g. Don't use words that can be found in a dictionary, proper names, abbreviations, etc. Also, don't simply truncate words or break them into segments (separated only by dashes or numbers).

Use the greatest number of characters possible

Within limits of course. 50-60 characters is the probably the absolute max you would need (I personally use about 15 in most of my passwords). Note: many websites and services limit the number of characters you can use for a password, both at a minimum and a maximum.

Use different passwords for every account

May seem onerous, but even using a set of passwords which you rotate is risky.

Treat 'security' question answers as if they were passwords

Moreover, use different answers for the same question on different websites - try to select a variety of different questions as well (if provided the option to do so).

Be wary of 'storing' passwords in browsers or otherwise

Many software programs which allow the option to save passwords for you do not actually encrypt the passwords. So, anyone with access to your computer could potentially reveal those passwords.

If possible, avoid the process of actually typing in passwords

Doing so circumvents any nefarious software known as keyloggers, which automatically record any characters typed on the keyboard - including passwords.

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