What Are Password Managers And Why Are They Important

Posted by Five Nines on May 16, 2018 1:13:05 PM

PASSWORD SAFETY-1First, take a moment to test how secure one of your top-of-mind passwords really is by clicking this link:

https://lastpass.com/howsecure.php

Did the test tell you that you needed a stronger password? Did it tell you that your password is strong enough? Do you use that same strong password for everything?

When users have to make up a password, two strategies are typically used:

  1. They use a password that is simple and easy to remember.
  2. They use one strong password for every single account. 

These strategies are good in theory, but bad when it comes to security purposes, which is why password managers are highly recommended to break the cycle of bad password practices.

It's something everyone does several times a day - typing in a password. And for 92% of people surveyed by SecureAuth Corp. and Wakefield Research, the SAME passwords are being typed in for all of their accounts. While this may seem like the easiest solution to consistent password annoyances, this type of online behavior leads to the 91% of Americans who have experienced an online breach at some point in their life. See the correlation?

According to LastPass, passwords are the key to our digital lives, and users often forget the importance of passwords because of the "inconvenience" they may cause when trying to do things online. The importance of the information that is kept online is worth going the extra mile to protect, which is why we recommend the use of password managers to ensure your organization and its' employees are maintaining secure online habits.

WHY PASSWORD MANAGERS

Having one strong password simply isn't good enough anymore with the current technological landscape.

Over time, users have gradually become connected to more and more accounts that require passwords, which generated the habit of users wanting to use one password for everything to avoid getting locked out of accounts. While it may be habitual to input the same password for everything, the increased amount of data breaches that are seen in the media have made it apparent that it's best to have a unique password for every account that requires one, to ensure overall account security.

That's where password managers such as LastPass or 1Password come into play. These applications assist users in organizing and safely storing all of their different passwords. Gone are the days of putting pen to paper and storing sticky notes around your desk with all of your passwords on it, now all passwords can be easily accessed and found in one application. When logging into an account, all you have to do is retrieve your password for that account if it's not memorized from your password manager. An extra 15-30 second step that can save you time and money in the long run. Not to mention, your accounts are way more secured as a result. 

WEAK PASSWORD TESTS

Ensuring your employees are maintaining a high standard of strong passwords is also necessary in keeping your organization protected. Five Nines conducts tests internally to monitor all user passwords for any potential vulnerabilities. These tests are similar to the one you took above, but on an organizational scale. Conducting these tests not only provides peace of mind that employee passwords are secure, it also holds employees accountable in keeping password safety top of mind. These tests are conducted along with the use of password managers for an extra boost of security.

Maintaining high security of your IT environment requires time, money, and extra effort. Compromising internal files and data due to poor password practices simply isn't worth it. Take the time to set up a password manager account, encourage fellow employees to do the same, and take the extra few seconds to  avoid a security breach.

It's worth it, we promise.

It's always best to be prepared for the worst to keep your organization at its' best. Click below for a free Ransomware Rescue Guide to have on hand that will guide your team through the initial steps of a potential ransomware attack if you ever experience one.

Click Here For Your Free Ransomware Rescue Guide

 

Topics: Cybersecurity, Threat Landscape, Security