Though the incidence of a PayPal account getting hacked is not very common, it has happened in the past, and it can happen to you too. To keep your PayPal account safe, you need to follow certain precautions. First, sign up for a separate new e-mail account and use this email for your PayPal profile.
There are ways of hacking into your account and PayPal does not appear to have the means or policies to stop them. Social engineering, spoof e-mails, and other factors to get e-mail addresses and password are commonplace for any credential.
PayPal is the most popular, and hackers have spent a lot of effort in gathering username passwords for consumers. Security questions can add another layer of protection to your account. This way, if a hacker tries to get into your account using a legitimate password, they will not make it past a security question.