I am seeing more and more services offering the option for its users to sign in by linking their Social Media and 3rd Party accounts such as Google, Facebook, Linked In, X etc.

Is this a good idea?

While this is convenient, personally I avoid using my 3rd Party accounts to sign into the web accounts and software that I use because if this password was compromised then it opens the door for a hacker to login to all of my linked up accounts.

While it is convenient and easy, it’s still security best practice to use individual passwords that are unique to each account you have.  This is also made easier by using a Password Manager to store all of your unique passwords.  Please see our blog on Password best practices for some tips on this.
Blog: Password Best Practices

Here is an exampe of what I mean with using a 3rd Party Login: