With World Password Day upon us, let’s consider password managers. Nowadays, individuals and organizations use different online apps and social media platforms that require them to submit login credentials. Creating a unique, long, and complex password can be tricky and difficult to remember.
That’s why the majority of people end up using weak and easy-to-remember passwords or they create and memorize a strong password, and then reuse it across multiple sites.
However, hackers are always on the prowl so following a secure practice when creating passwords is vital. A strong password should contain between 8 and 12 characters, consist of numbers, uppercase and lowercase letters, and special symbols. Always avoid using your nickname, pet name, date of birth, street name, or any publicly available information. You can also use an acronym for easy-to-remember phrases.
The challenge faced by individuals who don’t use similar passwords for all accounts is remembering different complex passwords across various websites. Well, the simple solution is a password manager.
Despite the fact that a password manager is designed to help people manage and monitor their login information, only around 22% of Americans utilize this app. The app usage is common among couples: around 35.4% of people who are leaving together use a password manager app, compared to 21.5% of single people.
This article discusses the reason why you should consider using a password manager.
What is a Password Manager?
You can compare a password manager to your book of passwords, where only you have the key to access it. A password manager is a digital substitute for your book of passwords, but it also helps generate random, unique, and strong passwords when you log in to new sites. However, if you lose your master password, it becomes impossible to access your other saved passwords.
After installation, you can start changing your website passwords to strong and secure ones. Aside from passwords, a password manager can secure other sensitive information related to credit cards, etc.
How to Use a Password Manager?
The first step to using a password manager is by downloading the app on your mobile device or desktop. Some recommended password managers include LastPass, Keeper Password Manager, Zoho Vault, Bitwarden, and Dashlane. Once you’ve installed the app or program, create a master password to control your entire password manager database. Ensure the password is strong, write it down, and keep it somewhere safe.
How Much Does a Password Manager Cost?
The cost of a password manager depends on the type you’re using. While some password managers are subscription-based, you can also find some no-cost options out there. In most cases, users should expect to spend between $30 and $60 annually for a trustworthy password manager.
6 Reasons to Use a Password Manager
According to a Virginia Tech study, 50% of respondents used the same password across multiple sites (understandably). Now consider credential stuffing—a type of password attack that exploits these kinds of multi-use passwords to hack accounts on a grand scale.
A password manager is a must-have if you want to secure your accounts while avoiding the stress associated with creating and remembering strong and unique passwords for each one. Here are six reasons why you should consider using a password manager.
Helps Keep Track of All Accounts
Using a password manager eliminates the hassle of keeping track of strong passwords for all your accounts. You only need to remember one master password, and the app or program does the rest.
Creates New and Strong Passwords in a Click
Creating new and strong passwords for your accounts can be challenging. A password manager makes this easy with a click. It suggests new, strong, and unique passwords to secure your account. Set your password manager to generate passwords with a minimum of 16 characters long, encompassing the major character types—symbols, numbers, lowercase, and uppercase.
Prompts You to Change Weak and Reused Passwords
Another unique security feature of a password manager identifies passwords that are reused, weak, or have shown up in data breaches. It also helps improve your account security by suggesting new strong passwords for every weak credential.
Additionally, you can apply two-factor authentication on your password manager to strengthen security. You’ll need more than just your master password to access the app—such as a pin or OTP sent to your mobile device or an authenticated email address.
Keeps Your Login Credentials and Other Private Info in Order
A password manager stores your IDs, bank details, and other login credentials in an orderly manner. It won’t forget your username or credit card details, and you don’t need to remember your passwords.
It Allows Shared Vaults for Teams
A shared vault is accessible by your entire team. Using a password manager allows employees to safely share and manage passwords. Interestingly, it allows you to control the access each team has in each vault. Don’t forget the weakest link in the security chain— humans. So it’s essential to educate your team on digital and physical data security. Also, teach them how to safely keep the recovery kit and distance work login info from personal login credentials.
It Helps Avoid Phishing
Phishing is a cyberattack that tricks people into divulging their login credentials. A password manager helps to avoid this social engineering attack by creating long and complex passwords. Additionally, a password manager keeps track of all website URLs that you visit. Most password managers auto-fill in your credentials related to a specific URL, so they don’t submit information on a phishing URL.
The app usually displays an icon in the browser bar to indicate that it’s a known site. However, the app won’t display the icon if an entry was misspelled in a phishing attack and the site URL is incorrect. This helps you identify websites with malicious intent. To know if a URL is truly a phishing link, you can make use of our Phishing URL checker. It’s a robust AI-powered real-time phishing and fraud detection tool.
Password Managers: Chrome vs. Apple Keychain
Many people use Chrome’s password manager and Apple’s Keychain password manager. Let’s compare these two managers for a second.
Chrome’s password manager and Apple Keychain are similar because they are both built-in password managers. While Chrome saves passwords for Android or Chrome browsers, Apple’s iCloud Keychain is a great security tool that’s highly optimized for Apple devices.
Although Chrome and Apple Keychain are great security passes, they aren’t powerful enough to keep track of the overwhelming volume of credentials needed to secure your accounts effectively, especially in a business setting.
Chrome and Apple Keychain are limited to devices and web-login security. They’re mostly reliable when you only want to secure your password and credit cards. But if you also want to secure your app logins, banking credentials, crypto keys, and other sensitive information across all mobile devices, a robust password manager is essential.
The only thing that keeps your sensitive data aways from hackers is your password. There’s no denying that cyberattackers are constantly targeting login credentials to gain access to sensitive information. So it’s imperative for individuals and organizations to practice good password hygiene. Always use strong and unique passwords that are complex across your accounts.
Keeping track of these passwords can be challenging and overwhelming, but using a password manager erases the hassle while keeping your various accounts secure.
*** This is a Security Bloggers Network syndicated blog from EasyDMARC authored by EasyDmarc. Read the original post at: https://easydmarc.com/blog/why-you-should-use-a-password-manager/