What is a Password Manager and why should you use it to keep your business safe?

What is a Password Manager?
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We all know that it’s vital to use very lengthy, unique, and complex passwords for every login we use. Whether it’s for online banking, a work account, or just your personal Facebook account. To come up with a safe and complicated password for every account can seem very unnecessary and almost impossible – spoiler alert – a Password Manager will save you this hassle.

Why do you need to have different passwords for each account?

If you have been using the same password for different accounts, then it’s safe to say your passwords could be or have already been compromised. It is of course easier to use one or two passwords for everything, but as a result, you’re exposing your business and yourself to being hacked.

If your email login and password have been stolen, this is a form of cyber attack called Phishing. The hacker can then access all information and data within your emails. The scary thing is that you may not even realise someone else is sitting in your emails, watching everything you do. When they are ready, they will send a malicious email to your clients or colleagues with an attachment or link. Once clicked, malware will be unleashed.

Within the last 12 months, organisations that experienced breaches or attacks, just over half (51% of businesses and 54% of charities) say they’ve just had phishing attacks and haven’t had any other kind of breaches or attacks. In many cases, your password is the only thing keeping the bad guys out. Check out more business security breach statistics on the government website here.

What is a Password Manager?

This is exactly what it says it is, it will create and securely store your passwords in one place. It provides the ability to save multiple passwords for all your programs and applications, whilst also allowing you to create highly unique and complex passwords, that you would not normally be able to remember. All these passwords are stored in a secure vault which is accessed by one just password.

Why are employees the biggest risk to your business?

As a business owner, one of your biggest risks is your employees! Think about this, what happens to sensitive information such as passwords once an employee leaves a business? The unthinkable might happen and that employee exposes your business data. With a Password Manager, you are able to take immediate control of a user’s business vault. Then, either transfer it to a new user still within the business or simply block access to internal systems for the employee who has left.

For all current employees, all it takes is for one employee to have a very weak hackable password for the whole business to be breached. If Password Managers have been put in place then you know every single password each employee is using is safe and secure.

 

What are the benefits of a Password Manager?

  • Security – The passwords are stored in a secure encrypted vault, which will automatically be used and filled in when you land on a specific web page with a single click of a button
  • Control – Passwords can be shared with other users, these users and their passwords are stored in their own vault and ready to use within seconds
  • Compliance – secure, lengthy, and unique passwords are generated for you
  • Productivity – You may create and save long complex passwords without having to remember them, saving you the hassle of finding the password and putting it into the login field

 

In order to keep yourself and your business secure, introducing a Password Manager will allow you to protect your business in a hassle-free and easy to use application. Feel free to get in contact with one of our cyber security experts to discuss this further.

Call 01273806211 or email [email protected]