So, Should I Have One Password or Many Passwords?
Passwords are the first line of defense against cybercriminals and their unauthorized access to your company and personal data.
Most people around the world struggle with managing their passwords. A recent Verizon Data Breach Investigation reported over 70% of employees repeat passwords while at work. According to the study, 81% of hacking-related breaches used either stolen or weak passwords.
To make matters worse, password reuse by individuals at home is transferred to their workplace. Despite the fact that 91% of people are aware that it is bad practice to reuse passwords, 59% do so at both their place of employment and home. Using a strong password is fundamental to ensure your information won’t be at risk.
Importance of a Strong Password
Creating a strong and secure password can reduce the risk of cybercriminals guessing your password and accessing sensitive data. Compromised passwords caused 80% of all data breaches in 2019, resulting in financial losses for both businesses and consumers.
Fear of forgetting complex passwords, especially when there are several to remember, is a common worry that people have while creating them. A strong password makes the amount of time it takes to guess it exponentially longer if you use a 20 character randomized password with upper/lowercase letters, numbers, symbols. It would take a computer 3 sextillion years to crack it.
There are many different types of attacks that cybercriminals use that target simple passwords. For businesses, cybercriminals can start disinformation campaigns against companies, sharing their data with competitors or stealing a company’s data and holding it for ransom.
Tips On How to Create a Secure Password
Creating a secure password does not have to be hard. Here are a few easy steps on how to generate a strong and secure password to avoid any breaches.
- Do not reuse passwords
- Use a unique, strong password for every website, application and system
- Use a mixture of symbols, numbers and uppercase and lowercase letters
- Do not use personal information such as your birthday or dog’s name
- Use a password generator
Lastly, save all of your existing passwords in a password vault so you never forget a password again.
How to Protect Your Passwords
It’s tempting to use your internet browser to remember your passwords, but this is not secure. Depending on the settings on your web browser, anyone with access to your computer can copy all of your passwords and use them to log in to your bank or sell your login information to other cyber criminals.
Never write down your passwords anywhere. If you write them down, anyone who may have access to your space can readily steal it. If possible, never share your credentials with anyone. If you must, use a password manager to securely share them. Or better yet, if your password manager has time-limited sharing, make use of that. Always be on the lookout for criminals attempting to con you by calling or emailing you and asking for your passwords.
A password vault is an encrypted digital web vault within a password manager that stores online login credentials, documents, images and other sensitive information. Users input a single master password that decrypts the vault and provides access. A password manager can make your life easier by providing quick and simple access to your accounts while significantly improving the security of those accounts, making it much more difficult for cybercriminals to gain access.
Keep Your Passwords Secure
Safe and secure passwords are simple to create with a quality password vault. Don’t stress about coming up with passwords for every account yourself.
Schedule a call with our expert, to learn how to implement password best practices for every user at your company:
