Research shows that poor password practices account for 63% of data breaches. A password management servicer is a third party solution that helps organizations mitigate this risk by creating a secure, master password for users throughout a network.
The Importance of Proper Password Practices
The 2016 Verizon DBIR report stated that 63% of data breaches were caused by poor password practices. Nearly 75% of online users depend on a single password across all their accounts. Stealing a user’s credentials is the easiest way for hackers to open the doors to your network, and poor password practices can put savvy attackers one move away from doing just that.
Are your passwords putting your organization in this predicament?
You and your other users may think it’s clever to use a loved one’s birthday or other personal information as a password. But in reality, these passwords can be easily guessed and stolen. Meanwhile, we all know how frustrating it is to constantly create and remember new passwords, and how difficult it is to compel your team to do this when they’re busy handling other key responsibilities.
There are countless articles and tips on how to create the perfect password. But rather than giving this crucial task to each individual user, implement a password manager that does the heavy lifting for you.
What Does a Password Manager Do?
A password manager is a third party that creates a master password for users throughout your network. Once users are in the system, they receive personalized access as determined by administrators and the password manager. Using a password manager mitigates the risk of your users trying to keep track of multiple passwords, or creating passwords that will be easily stolen. Password managers enable users to exchange the time spent entering, recalling or changing multiple passwords for a password they can trust.
Unique passwords are stored based on the policy of the password manager—important information to know when choosing which is best for you. However, it’s common for password managers to store this information in a database or in a cloud that can only be accessed by top administrators.
What Is Using a Password Management service Like for Your Team?
In the nascent stages of password management, all current passwords are entered into the system. If, for example, a user has created a password for his email, that password is stored in the password management system. The next time the user logs into his email, he simply enters the master password, and the password manager automatically pulls up and enters the original email password. When users need to create a new password, they simply use the master password, which in turn automatically generates a unique password that cannot be “guessed” by hackers. Users can enter the master password on their smartphones, home devices or on the go—a major perk for today’s increasingly global workforce. This process can be even simpler if your password manager is installed as a browser plug-in.
Administrators do not have to be tech-savvy in order to use and make changes to the password manager. Most interfaces have been designed to be user-friendly, and customer service representatives can guide administrators through changing master passwords or restricting information.
More cyber security Advantages of Password Management service
But password creation isn’t all that a password manager does. It’s only the beginning. A password manager can also help your organization:
- Automatically update data across the network
- Control distribution of password and information sharing
- Require that passwords are created according to best practices (passphrases, complex passwords, etc.)
- Identify current passwords that are too similar or too simple
- Alert users of compromised websites or accounts—and change passwords within minutes
- Provide optional two-factor authentication for added security
- Store important information and documents such as credit card numbers, software licenses and photos
A password manager minimizes the time and effort of keeping your network safe. If you’re not using a password manager yet, it’s time to explore how this tool can help your users access all the information they need to be productive—without the hassle or responsibility of remembering and creating multiple hacker-proof passwords.