The average cost of a data breach is increasing, with global cybercrime costs expected to reach $6 trillion in 2021. Understanding the difference between vulnerabilities, exploits, and threats is crucial for effective cybersecurity risk management. Security vulnerabilities can be found at all layers, including infrastructure, network, and application. The OWASP Top 10 Vulnerabilities and CWE (Common Weakness Enumeration) lists identify common software weaknesses that have security ramifications. These weaknesses include porous defenses, risky resource management, and insecure interaction between components. Finding and fixing security vulnerabilities is essential through formal vulnerability management programs, which involve cross-team best practices and procedures for identifying, prioritizing, and remediating vulnerabilities in a timely manner and at scale. Automated tools such as software composition analysis, static application security tools, dynamic application security tools, and open-source vulnerability scanners can help implement Secure SDLC (Secure Software Development Life Cycle) and improve cybersecurity risk management.