As you can see, is extremely easy to add an extra security layer to your site by limiting the failed login attempts.
But of course, you shouldn't forget the basics!
The very first layer of protection to your site is your password.
And the most cliches are still valid ... So, first of all, you should ALWAYS use strong passwords on your Wordpress site!
Also, if you run a multi-author site, then is always a good idea to force strong passwords on users in Wordpress ... You could use for example a plugin like Force Strong Passwords:
https://wordpress.org/plugins/force-strong-passwords/
And the final cliche ... No website is 100% safe because the hackers will always find new ways to get around the system. That’s why it’s crucial that you create & keep full periodical backups of your site at all times. A plugin like UpdraftPlus will do the heavy lifting ...
https://wordpress.org/plugins/updraftplus/
And that's it my friends!
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Thanks for your time!