Are you asking “should I use a password manager to store my passwords”? Or are you relying on a sticky note that is on your desk?
Password managers not only store your passwords, but they create strong and unique passwords for you. The implementation of a password manager adds an additional layer of security to your business.
6 Reasons Why You Need to Be Using a Password Manager
Reusing passwords leaves you vulnerable
At least 60% of people reuse passwords across multiple sites if not all. Reusing passwords makes it easy for hackers to gain access to all of your accounts if one set of credentials is breached.
91% of participants in a recent survey understand the risk of password reuse, while 59% admitted doing it anyway. What can you do to prevent this within your business?
Using a password manager prevents the reuse of passwords. When creating a new set of credentials, the password manager will generate long, strong, and complex passwords for you. There is no need to reuse passwords with them all generated and stored by the password manager.
Strong and unique passwords keep your accounts secure
Short and non-complex passwords can easily be breached by malicious cyber criminals.
If a password is only four or five characters (whether they are just numbers or a combination of numbers, letters, and symbols), there’s a very high chance that it will be hacked instantly.
The longer, more complex, and unique a password is, the less likely it is to fall victim to a password attack. When a password manager is generating you a new password, it will make sure that not only are the characters randomized, but they are of a length that lessens your chances of being hit with a brute force attack.
You only have to remember one master password
When using a password manager you only have to remember one master password to gain access to all of your credentials. This means your master password must be complex and difficult for hackers to crack.
If a password contains only numbers and up to 18 characters, it could take a hacker up to nine months to crack the code.
We recommend your master password be a passphrase and something you can easily remember.
Examples of a good master password:
Passwords are stored in a secure vault
Password managers store all of your credentials in a secure, encrypted vault. Again, to gain access to your vault, all you need to remember is your master password.
Password managers rely on a “zero knowledge technique” which means the company that runs the password manager doesn’t know your passwords or master password. This also means that if the password manager company gets hacked, their customer data won’t be compromised.
It’s easy to share passwords and credentials when using a password manager. Password managers give you the ability to share passwords without the other user being able to share and see the physical credentials themselves. This is great for remote workforces. This prevents users from writing down passwords and sharing them with people outside of the organization.
It makes life easier
Conclusion – Should I Use a Password Manager?
Overall, using a password manager makes life a lot easier. The auto-fill function in password managers makes logging into any website or application quick and easy. All you have to do is add the password manager to your browser as an extension.
So, do you need a password manager? We think so. With everything stored in one place, you don’t have to worry about writing down passwords or trying to remember them. You can sleep well at night knowing your passwords are strong and secure.
Contact us today if you would like to learn more about password management or would like to get started.
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