The downside to a password manager is small in comparison with the benefits
Many people don’t like to remember passwords especially long complex ones, which is why password managers are so popular. We know it sounds like you’re trading in one headache for another, but with the advancement in technology, the advantages of a password manager far outweigh any potential downsides.
One of the biggest benefits is that when someone hacks into your system and copies your information, they will only get limited access to your account if you have a password manager.
Introduction: What is a password manager?
Password managers are programs that store passwords to websites, email accounts, banking accounts, and other sensitive information in an encrypted manner. This way you only need to remember one password to unlock all of your other passwords. Password managers also offer two-factor authentication, which prevents hackers from using your password if they just have it or can guess what it is.
A good password manager can work across multiple devices meaning the passwords you store are available on your Windows/Mac/Android/iPhone devices.
At PinPoint we have been recommending LastPass to large and small businesses in our hometown of Chichester but also across Hampshire, Sussex and the rest of the UK as a vital layer of your Cyber Protection.
Benefits of using a password manager
Passwords can be a real hassle. They take time to remember and they’re easy to forget. If you have a password on every website or app, it can be really hard to remember them all. A password manager is the perfect solution because it keeps track of all your passwords for you. In addition, it has various ways of making sure that you don’t just have one password that you use everywhere.
Free password managers are a good place to start but a good paid service can add a number of useful features such as installing on an unlimited amount of devices, proactively check for your stolen credentials on the Dark Web, sharing passwords securely with colleagues and the ability to keep personal and work passwords separate. That’s why we love LastPass, as well as all these features it’s also one of the easiest to use and offers free friends and family licenses with every Business license.
- Never forgetting a password again
- Protecting your passwords from cybercriminals
- Saving time by not having to remember your passwords
- Keeping your passwords confidential with only you knowing what they are
- Not having to provide the same password for more than one website
- Ensuring that your passwords are up-to-date and secure
The downsides of using a password manager
At first glance, using a password manager may seem like an easy option for people who want to protect their data. However, there are potential downsides to the decision. The first downside is that you might forget your password and not know how to reset it. The second downside is that if your password manager doesn’t work right, it could be worse than having no password manager at all!
It is vitally important to use a strong unique password and multi-factor authentication
Last week there were stories about LastPass and that some customers having there master password compromised. LastPass have been very open about this and have tracked the issues to an attack called Password Stuffing. This is where your credentials are stolen from another site and they try it against another, which is why it is vitally important to use a strong unique password and multi-factor authentication.
- Cost
- Single point of access to all your passwords
Conclusion
There are many benefits to using a password manager, even if there are some downsides. Your passwords are more secure and the software will save you time by remembering which website requires what information. You can also protect your sensitive files with it or use it to save your credit card information. It’s not only easier for you but also makes it harder for hackers to steal your credentials.
If you are worried or need some Cyber Security assistance then reach out to our team to see how we can help. Or watch our demonstration how hackers work with our Hackers Toolkit video
