According to a quick internet search, the average person has 100 passwords. (That may be why 23 million people resort to the overused and not so safe “123456” password.) All of us have moments when we pause before logging in, trying to remember which password we used for a particular account or application. The sheer volume of passwords can often lead to unsafe practices like writing passwords down. (For those of you who have your passwords on a sticky note under your computer keyboard, that’s one of the first places a person with bad intent will look. And, for those who may be feeling good about your decision to stick the passwords to the bottom of your keyboard or phone…those are common tricks, too!) When you stop to think about all of the passwords in use at your business every day and the possibility that any one of them, if found, could be used to breach your systems, it can be nerve-wracking. So, what can business leaders do to help employees remember their passwords and keep them safe? I’ve been an IT professional for eight years and am currently manager of engineering services at Kelser. One of the most effective ways I’ve come across to manage the barrage of passwords is to use a password manager. But, to be perfectly honest, no one solution is 100 percent effective. In this article, I’ll explain how password managers work and walk you through the pros and cons. After reading this article, you’ll have all the information you need to be able to confidently decide whether password managers are a good solution for your organization. A password manager is software that securely saves your passwords for various websites and applications. It can save username and password combinations as well. With one secure password, users can gain access to passwords they have stored for a variety of applications and websites. Once installed, a password manager will ask users if they want to save their login credentials as they sign in to applications or visit websites. Once the login credentials are stored, the password manager serves as a vault saving the passwords for easy access. Users simply log in to the password manager and click on the website or application they want to access. The password manager will automatically autofill credentials (user id and password). There are many advantages to using password managers. Password managers are easy to use. They make it unnecessary to memorize and remember multiple passwords for different applications and sites. Passwords are easily accessible and quick to load.What Is A Password Manager?
How Do Password Managers Work?
What Are The Pros Of Password Managers?
1. Ease Of Use
2. Enhanced Security
Password managers add another layer of protection for users.
Most people use the same password for everything to make it easier to remember. This is a huge security risk because if the password is compromised, the attacker now has access to multiple sites and applications with just one password.
With password managers, users don’t need to memorize their passwords, so it is more likely that they will use unique, complex passwords for each application. And, some password managers will even generate secure passwords for you!
3. Mobile Compatible
Password managers can even work on mobile devices, so users no longer have to worry about having passwords handy when they are on the go.
Check out this article for tips on how to keep remote work safe.
Related article: Benefits Of Multi-Factor Authentication: Security For A Network, Simplicity For End Users
What Are The Cons Of Password Managers?
Some of the disadvantages of password managers that people cite include:
1. Single Point Of Failure
The biggest disadvantage of a password manager is that because access to all of your passwords is protected by a single strong password, there is the potential risk that an attacker could gain access to all of your passwords with one hack of your password manager.
If using a password manager, it is imperative that you also use multi-factor authentication to keep your data safe.
Related article: The Truth About 3 Common Multi-Factor Authentication (MFA) Concerns
2. Stored In The Cloud
Password managers are stored in the cloud. Not everyone has implemented cloud technology in their workplace. In addition, there is a level of mistrust associated with storing information in the cloud.
3. Extra Step To Login
Although password managers simplify the login procedure, the perception is that it adds a step to the login procedure. With the focus on speed of access, password managers can be a tough sell.
It’s important to educate users about the overall security improvements and the speed at which password managers gain access.
Does your business have all the tools you need to keep your data protected? Not sure? Click the button below and download the free cybersecurity eBook to learn 10 steps to take today and put in place all of the tools you need to help secure your data.
How Much Do Password Managers Cost?
Many password managers provide limited features for free. If you opt for a paid version to gain access to more features, they usually cost from $3 to $6 per user per month.
Who Would Benefit From A Password Manager?
I firmly believe that everyone would benefit from using a password manager. Most people are dealing with the issues that a password manager solves: having to remember multiple passwords, generating strong passwords, etc.
Who Would Not Benefit From A Password Manager?
The only people who might not benefit from a password manager would be those who do not like storing their passwords in the cloud and are concerned about the potential of any hacks. Fortunately, most password manager companies have very robust and secure systems.
What Password Managers Do People Choose?
Here is a list of password managers that you might want to consider from Cyber Magazine.
What’s The Bottom Line About Password Managers?
After reading this article, you have a full understanding of password managers. You understand what they are, how they work, the pros and cons, and who would and would not benefit from a password manager.
With this information, you can confidently decide whether or not your organization would benefit from this technology.
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As an IT professional with eight years of experience and currently serving as the manager of engineering services at Kelser, I've gained extensive expertise in the field of information technology. My role involves overseeing various aspects of IT, including security, and I've encountered and addressed numerous challenges related to password management during my career. I've implemented and explored different solutions to enhance cybersecurity, and one approach that has proven effective is the use of password managers.
Now, let's delve into the concepts mentioned in the article and provide additional insights:
1. Average Number of Passwords: The article claims that the average person has 100 passwords, highlighting the challenges individuals face in managing multiple login credentials. This statistic underscores the need for efficient and secure password management solutions.
2. Unsafe Password Practices: The article discusses unsafe password practices, such as using easily guessable passwords like "123456" and the risk of writing down passwords on physical notes. These practices pose significant security risks and emphasize the importance of adopting more secure methods.
3. Introduction to Password Managers: A password manager is introduced as software designed to securely store passwords for various websites and applications. It simplifies the process of managing multiple passwords by allowing users to access them with a single secure password.
4. How Password Managers Work: The article explains the functionality of password managers, detailing how they save login credentials securely and serve as a vault for easy access. Users can log in to the password manager, and it will autofill credentials for websites and applications.
5. Pros of Password Managers:
- Ease of Use: Password managers eliminate the need to memorize multiple passwords, providing quick and easy access to login credentials.
- Enhanced Security: They contribute to enhanced security by encouraging the use of unique and complex passwords for each application, reducing the risk associated with password reuse.
- Mobile Compatibility: Password managers can work on mobile devices, ensuring accessibility on the go.
6. Cons of Password Managers:
- Single Point of Failure: The article mentions that the use of a single strong password as the gateway to all stored passwords poses a potential risk.
- Stored in the Cloud: Password managers are stored in the cloud, raising concerns about trust and security.
- Extra Step to Login: Despite simplifying the login process, some users may perceive password managers as adding an extra step.
7. Cost of Password Managers: The article provides information on the cost of password managers, stating that many offer limited features for free, while paid versions typically range from $3 to $6 per user per month.
8. Who Would Benefit: The author asserts that everyone would benefit from using a password manager, except those who have reservations about storing passwords in the cloud.
9. Popular Password Managers: The article suggests referring to Cyber Magazine for a list of password managers, indicating that there are various options available.
10. Conclusion and Call to Action: The conclusion emphasizes that after reading the article, readers should have a comprehensive understanding of password managers, allowing them to make informed decisions for their organizations. The call to action encourages exploring managed IT support services offered by Kelser or seeking information about password managers from other sources.
In summary, the article provides a well-rounded exploration of password managers, covering their functionality, advantages, drawbacks, and costs. It aims to empower business leaders with the knowledge needed to make informed decisions regarding the adoption of password management solutions.
