Password leaks are one of the biggest security leaks faced by almost any business, and many don’t realise that the biggest risk often comes from their own employees. Often unwittingly, many individuals put the businesses they work at risk of data breaches and other security issues because they use one password across multiple accounts – be they personal or professional – they recycle old passwords, or their passwords are uncomplicated and easy to guess. The solution? Password management.
In a survey conducted by Google in 2019, as many as 65% of people reuse passwords in many or all of their online accounts: if a hacker knows one of them, they know them all. In 2012, hackers gained access to 164 million email addresses and other details from Linkedin as a result of password reuse in a Dropbox account – it is a serious and seriously underestimated problem. Password management, therefore, ensures that your passwords are complicated, strong, and that they vary from account to account.
Password managers such as LastPass, Dashlane, and Keeper generate complicated passwords for each account, suggesting and saving them as needed. Users need to remember one ‘master’ password in order to gain access to their database, and some services autofill pre-saved passwords automatically. Passwords can be imported and exported from one password manager to another, and some browsers come with a password manager built in, such as Safari.
Most password managers are free to use, but often incur additional costs at a higher level, which means businesses usually have to pay for their accounts. However, the security and peace of mind provided by password managers can pay for itself multiple times over. Many password managers use Multi-Factor Authentication in order to ensure that only one individual can access their passwords and are designed to encrypt all the passwords stored on their system. Rather than the password reuse which leaves businesses openly vulnerable, password managers provide another layer of security to overcome, and reduce the risk of online threats, keeping data secure.
If you have any questions about your business’s online security or want to find out how to better protect your business, Corona IT Solutions provide a comprehensive guide to their security services. To read about more online security solutions, you can find more articles on our blog.
