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Enterprise Security Magazine | Monday, March 15, 2021
Password security is critical for all parties involved, including businesses, organizations, and private individuals.
FREMONT, CA: Password security is a collection of policies, practices, and technology that strengthen the security of passwords and authentication methods. It's all about understanding how to safeguard passwords. A password is a form of the secret authenticator that must be memorized. In essence, it's a secret that only you know that enables you to authenticate yourself to third parties. Authenticators can also take the form of cryptographic devices, one-time passwords or PINs, or critical access cards.
However, what qualifies as a robust password security measure? To be deemed secure, a password must meet the following criteria:
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Although passwords were not established until the 1960s, they have become critical to account security and general cyber security for businesses and individuals alike. However, password security encompasses more than the password itself. Additionally, it must address the rules, procedures, technology, and training associated with protecting those passwords and the access they give. For instance:
The importance of password security
Human error is a significant concern, and it is unlikely to go away anytime soon as long as businesses employ humans. Users are fallible, and fallible beings make mistakes. Additionally, evidence from IDC research substantiates that fear.
According to an IDC analysis, nearly two-thirds (62 percent) of their IT- and non-IT-related 2019 survey respondents think user errors are the most significant cyber danger to their company. And the employees who caused the most alarm were the typical, everyday users—not executives or those with unique access credentials.
If users forget their passwords, they must reset them. At scale, the anticipated costs associated with password resets are significant. According to Forrester Research, the cost of each password reset is approximately $70. Multiply that figure by the number of password reset requests the IT team receives each year.
True, automating the password reset process has the potential to cut costs. However, firms will still encounter challenges with users creating easy passwords and password sharing.
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