You should use two-factor everywhere, and your PS4 is no exception!
(Android Central)

In a world where even gaming networks are being targeted and compromised by nefarious characters, it never hurts to add an extra layer of protection to our accounts wherever we are able. Two-factor authentication requires you to use a secondary key when logging into your account - so even if someone gets your password, they still can`t get into your account easily - and since PlayStation supports Two-Step Verification, you should absolutely use it on your PS4! How to set up Two-Step Verification on your PlayStation 4 From the dashboard of your PS4, select Settings. Scroll down and select Account Management. From the Account Management page, select Account Information. Select Security. Scroll down and select 2-Step Verification. Select Set Up Now. On the first Set Up page, enter the cell phone number where you want to receive texts. Select Add. A test SMS message with a verification code will be sent to your cell phone. Enter your two-factor code. Select Activate. With...