Suggestion for limiting password attempts

This is something that has been on my mind for a while now. I've been thinking about how safe a persons password is from being 'hacked'; not by someone simply asking you your account name and password, but rather by someone getting a hold of your account name and guessing your password through multiple attempts.

Therefore I'm suggesting that there be a limit on the number of times you can input a password for an account and fail. Aswell as a 'rest time' for someone who attempts to gain access to an account and exceeds the limit of tries. The limit on the number of attempts could be in the range of 3-5 and the 'rest time' would be from 5 minutes to 15 minutes. And should there be a 'rest time' that is placed on an account that account would have an e-mail sent to it notifying it that someone had attempted to gain access at ___ time and possibly ___ ip.

I think that players would benefit from this in several ways. They'd be notified if someone is attempting to hack their account, which would enable them to take action in an appropriate manner such as changing their password or even contacting GW support. It would also give players some sense of security against unscrupulous people who may attempt to gain access to other peoples accounts and ruin all the work they've put into their characters.

*note I did do a search to see if this had been suggested before but the search function wasn't working for me. My apologies if this suggestion has been made previously.

yeah what will also be nice is to see when the last time a wrong password was put in somehow or that you recieve an email when a wrong password has been put in. then atleast you know if it wasnt you who did wrong entrance of the password but that someone is busy hacking your account.