Albatross Around One’s Neck

What does the idiom “Albatross Around One’s Neck” mean?

Definition:

Something from one’s past that acts as a hindrance

For example:

“My drug arrest when I was a teenager has always been an albatross around my neck. When employers find out about it, my job application goes nowhere.”

Notes:

Also (esp. UK) “albatross round one’s neck.”