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Enterprise Security Magazine | Wednesday, June 28, 2023
Password management is a set of principles and best practices to be followed by users while storing and managing passwords efficiently to secure as much as possible to prevent unauthorized access.
Fremont, CA: 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!
Here are some reasons every business should make this software part of its security toolkit.
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People won’t use strong passwords voluntarily.
No one likes to create new passwords, so people tend to go with simple options that are easy to remember. Unfortunately, that also makes them easy to guess. Today’s password-cracking software quickly cycles through common patterns and can even be customized to incorporate known information about the user. Passwords that were considered secure five years ago are easy targets today.
People aren’t good at creating strong passwords.
A password isn’t considered secure unless it is 12 characters long and contains a random combination of numbers, symbols, uppercase, and lowercase letters. Password managers have algorithms that automatically generate secure passwords and store them securely so users don’t have to remember them.
People use the same passwords repeatedly.
This is an understandable but also dangerous practice. No one can remember dozens of unique passwords, so people use the same ones repeatedly. That can be catastrophic in a business environment. Using a password management program ensures that users can easily apply different passwords to each service, thus limiting the damage should any of them be compromised.
Lost passwords are a significant time sink for help desks.
Experts recommend against storing passwords in unencrypted files or on paper notes, meaning users must commit them to memory. Not surprisingly, people need to remember. That’s why Gartner has helpdesk calls for password resets at some companies.
Password changes are quickly recorded.
Many online services ask their customers to regularly change their passwords. Password managers help employees manage password changes and updates.
Browser-based password management isn’t secure.
Most browsers today have a primary built-in function that offers to remember passwords. The problem is that browser-based solutions typically don’t focus intensely on security.
Password managers protect against phishing attacks.
Phishing attacks are among the most effective ways cyber criminals steal login credentials. But password managers aren’t. If the domain name doesn’t match the record within the password manager, it won’t serve up a password.
Password managers can sync to the cloud.
People must log in to services from various devices. There is only one reliable, convenient, or secure way to carry those credentials other than by password manager.
They support multi-factor authentication.
Multi-Factor Authentication (MFA) requires users to supplement passwords with a second form of identity, such as the answer to a challenge question or a PIN code sent to their phone.
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