In light of the recent hacks and security problems you should enable two-factor authentication wherever you can (Google, LastPass, …).
Now you can use Google Authenticator to do this with your self-hosted WordPress Blog.
If you are security aware, you may already have the Google Authenticator app installed on your smartphone, using it for two-factor authentication on your Gmail or Google Apps account.Link: wordpress.org
The two-factor authentication requirement can be enabled on a per-user basis. You could enable it for your administrator account, but log in as usual with less privileged accounts.
If You need to maintain your blog using an Android/iPhone app, or any other software using the XMLRPC interface, you can enable the App password feature in this plugin, but please note that enabling the App password feature will make your blog less secure.