It’s highly recommended that everyone uses a password manager, as these have been shown to be far superior to other ways of keeping track of your passwords. However, you might be wondering if trusting an app with your passwords and storing them all in one place a smart idea? In a word, yes- particularly when it comes to your email. This is because if a hacker gains access to your email they can essentially take control over all other accounts you own by password resets so it’s important to be extra careful. Here are some reasons why password managers are a safe and smart choice.
What is a password manager?
A password manager is software which stores all your passwords, and then automatically fills them in your web browser and mobile apps. It essentially stores your passwords in a ‘secure vault’, which you can unlock with a single master password—and, optionally, an extra two-factor authentication method to help keep everything extra secure. With a password manager, you only have to create one strong password and remember it and the rest is done for you.
Why do I need a password manager?
Technology promises to make our lives easier, and for the most part, it does. However, passwords can be an issue as every new website and application we sign up for is another password we have to remember. When you’re using lots of accounts, both for work and in your personal life, it can become impossible to remember all of them. Password managers allow you to use strong, unique passwords everywhere which typically isn’t possible for most people, you’d need a photographic memory to remember unique, complex passwords over multiple sites. For this reason, most people end up reusing passwords on multiple websites; this is dangerous, as a password database leak at just one website means your accounts on all others that you’ve used the same credentials are left wide open. Someone simply needs to try signing in with the same email address and password combination from the breach and they’re in. Even changing up your password based on the domain you’re logging into means that your passwords are predictable and therefore easy to simply guess (such as ‘passwordFacebook’ or ‘passwordgoogle’. It doesn’t take a genius to predict them across your other accounts. Data breaches are a huge concern to your business and could cost you your entire venture. Research shows that 80% of data breaches are caused by weak and reused passwords; this is clearly an area that we all need to take more seriously. Password managers provide alerts if any of the passwords you’re using have been breached in an attack and recommend passwords you should change, which could allow you to act promptly and prevent your entire account or business venture from being hijacked.
Are they safe?
It’s important to remember that no piece of software is absolutely fool proof. Hacking can occur to anyone, however it’s important to remember this: password managers don’t have to be perfect; they are better than not having one. Having a strong password, even if you’re using software that could potentially be exploited, is still better than a weak and easily guessed password. Even in 2020 people are using simple passwords such as ‘password’ and ‘letmein’ which are guessed incredibly easily. Even though time has exposed security flaws in some password managers, using them is often better than not using them. The same goes for most security technologies. Password managers force you to create new passwords instead of reusing old ones, force you to create strong passwords and remind you to use two factor authentication- steps that can really cut down on your chances of being hacked. A good tip to making your passwords even stronger is to have your password manager create you a strong password, and then add four digits to the end of it that only you know. When your password autofills, you simply type the extra four digits at the end. This means that even if your password manager is hacked, they still don’t have access to your true password.
Best practices
Still, even if you opt to use a password manager, it doesn’t mean that you’re infallible; You should still use common sense and be careful. Follow best practices, such as ensuring that you don’t share your master password with anyone, not leaving your computer open in public, and enabling two-factor authentication when possible. Two-factor authentication (also called multiple-factor or multiple-step verification) is a process used to double-check that your identity is legitimate. Two-factor authentication works as an extra step in the process, a second security layer, that will reconfirm your identity and make sure that it’s really you trying to access the account. It means that even if your password were to ever be breached, there’s a second step making it more difficult for attackers and to make your account safer.
If you’re wondering whether you should use a password manager, the answer is a resounding yes. Don’t wait until attacks and breaches happen before taking action; Be proactive and allow a password manager to secure your accounts with strong, complex passwords. If you’re not entirely convinced, adding two-step authentication or adding additional characters on to the end of each generated password can help you to stay extra safe.