Methods, apparatus, and processor-readable storage media for encryption using wavelet transformation are provided herein. An example computer-implemented method includes generating a modified item of cryptographic information by randomly incorporating one or more characters into a user-provided item of cryptographic information; converting the modified item of cryptographic information to a matrix code; creating multiple bands of data by applying wavelet transformation to the matrix code; generating one or more encrypted items of cryptographic information by converting a selected one of the multiple bands of data into a sequence of multiple characters by applying an encoding process to the selected band of data; and storing the encrypted items of cryptographic information in a database for use in authentication requests.