The Importance of Using a Password Manager

Password Manager

The Importance of Using a Password Manager 

 Password managers are commonly recommended by security professionals for keeping the data secure. So are they really the best way to keep track of your passwords? 

 

The Problem 

Although most people are aware that using “password,” or their date of birth as a password isn’t wise, experts reveal that the worst habit you could have is reusing the same passwords across several platforms, which over half of Internet users do “until required by IT to update or if impacted by a security incident,” according to report. 

It doesn’t matter how strong your password is, if a security breach compromises just one of those passwords, hackers will be able to enter other accounts using it. And if your bank account is opened with the same term or series of numbers, you are financially at risk. 

While widespread understanding of hacking and privacy infringements has improved significantly in recent years, there is more to be expected for password hygiene. 91% of people understand that recycling passwords raises immense dangers, yet a staggering 59% still use those same passwords everywhere. In particular, companies should pay more attention to password hygiene among their employees, with almost 47% reporting that their passwords for both personal and business accounts are the same. 

Passwords kept on the hard drive of your device can be an easy target for hackers or thieves who enter your computer remotely. Any time your device is shared, all of your private information, such as the main set of passwords, becomes public. Similarly, storing your account passwords onto your mobile makes them vulnerable to anybody with access to it, such as robbers. Using a password manager helps you to keep your passwords protected from intruders, hackers, and criminals by saving them on secure and encrypted servers. 

Aside from the possibility of your password being exposed to ransom ware on your own computer, using the same password anywhere leaves you at the mercy of the provider with the weakest cybersecurity. Cybercriminals seize passwords, email accounts, and usernames they find and aim to sign in to other internet services, which works shockingly often. This can be prevented by using different passwords for each separate account. 

 

What is a Password Manager? 

A password manager is a secure, automated, all-digital substitute for the note you keep containing all your passwords.  When creating a new account or resetting a password, a password manager will create strong password combinations and store them in one place, which is in turn protected with another strong password.  This means credit card numbers, addresses and all other information can be accessed securely in one location. As long as you know the master password, your password manager will remember everything else, filling in your username and password for you anytime you log in to a site or service on your phone or device. 

 

The role of a Password Manager 

Yes, Google’s Smart Lock (in Chrome and Android) and Apple’s Keychain (in Safari and iOS) do generate, save, and auto-fill passwords. But a good password manager will go even further – proactively warning you when you reusing passwords or when your passwords are weak and easy to guess or hacked. In addition to locating vulnerable or repeated codes, password managers also warn you if the password you’re using has been discovered in a cache of leaked user records, as at least 555 million have been. Those are indications that you can change your password right away. 

Plus, you won’t need to memorize any passwords apart from the master password, meaning you will be implementing important security advice despite it being unpleasant to deal with, such as never recycling passwords and instead using long, complicated passwords such as: S!JH<2-7nTWhlfmt.  

Password managers also protect you against phishing attacks, which redirect you to malicious websites and attempt to deceive you into typing your password. Password managers only show your login information while you are on the right website. 

 

Can you rely on a Password Manager?  

What if a hacker gains access to my password manager, you might wonder? Despite this being nearly impossible, if it does happen, a password manager encrypts the details and leaves it unusable. You could increase the effectiveness and reliability of your password manager by implementing several practices such as ensuring the main password is secure, done by using a random mixture of capitals, lowercase letters, numbers, and symbols. Additionally, it helps to disable your browser’s autofill function and manually copy and paste your passwords from your manager. 

 

Taking the leap 

Learning to use a password manager can be long and daunting, which is why at Elite Cloud Solutions, we will handle all the technicalities when you opt to secure your private information. Once we set it up for you, it will be fairly easy to use and any queries you may have will be addressed by our professional team.