(Updated on January 9th, 2023)
Passwords are the weakest link in the cybersecurity chain. But unfortunately, their importance is often taken for granted, which proves the fact that, according to Avast, 90% of passwords are vulnerable to attack.
Yes, you’ve read it well.
When the password is vulnerable to attack, it means that it’s easy to crack. And when it’s easy to crack, it’s not strong enough to withstand the most sophisticated ransomware and similar cyber threats. And that can be particularly dangerous.
It’s vital to understand that passwords are the key to our essential data’s safety and protection. If an unauthorized individual cracks our passwords and gains access to sensitive accounts, it could pose a significant risk to our own security and the company’s reputation. But there are ways to prevent that.
In this article, we’ll talk about one of the best ways to create and store strong passwords for our sensitive accounts – password managers. This tool allows us to generate impossible-to-break passwords consisting of random series of numbers, letters, and signs. Besides, this valuable tool helps users store and share passwords safely and efficiently, without risking that someone, somewhere, could decipher them.
You’ve heard enough to know that a password manager is a must-have. So, let’s see how it can help companies establish a healthy security culture in their organization.
1. Include a Password Manager in Your Healthy Security Routine
A password manager is more than a tool that creates and stores your passwords. It can help you establish a healthy security culture by conducting regular checks to detect risks regarding workplace account log-ins and providing comprehensive health reports that help you develop a working strategy for password protection.
Most password managers offer information regarding the following aspects:
Weak Passwords
The weak password reports refer to weak and easy-to-crack passwords you use to secure your sensitive accounts. Those passwords can be easily cracked by brute-force attacks, methods in which hackers use trial-and-error to guess the passphrase and gain access to the user’s account.
According to Verizon, over 80% of data breaches occur due to brute-force attacks that can easily identify and crack a weak password and take advantage of its poor protection. If the password manager detects your weak passwords, it’s time to change them. That way, you can mitigate the risk of brute-force attacks and similar incidents resulting in severe consequences.
Reused Passwords
Another mistake the users often make is using one password to secure multiple accounts. Reused passwords open the door for many inconveniences, especially since they allow hackers to access different accounts and cause damage that cannot be easily resolved.
By ensuring that each account is secured with a different password, you reduce the risk of a more extensive data breach. Namely, when one account is breached due to a reused password, it’s likely that all the accounts carrying the same passphrase will be breached, as well. Again, it’s quintessential to consider the reused passwords report and make radical changes in your security as soon as possible.
Exposed Passwords
The password manager report provides information about exposed passwords, as well. When a password is exposed, it means that it has already been hacked, used publicly, or sold on the dark web.
It’s highly recommended to advise your employees to change exposed passwords, as they represent a vulnerability. Moreover, employees are often the first ones targeted by brute-force attacks, which are quite successful when it comes to cracking already exposed passwords.
Unsecured Website
Thanks to the unsecured website report, users can have an insight into the passwords saved in the vault and associated with unsecured websites. An unsecured website is any website that begins with HTTP instead of HTTPS. The HTTP sites lack the SSL certificate, which encrypts the communication between the client and the server, preventing third parties from eavesdropping and obtaining the client’s credential information.
Another key to building a safe culture in your company is to remind your teams not to log in or leave their personal information on unprotected websites. That way, your sensitive data remains safe, and your organization safeguards its current security practices.
Two-Factor Authentication Update
Two-factor authentication has become one of the best ways to protect your sensitive accounts. As its name suggests, it requires you to, besides a password, enter the code sent via SMS or email in order to log in. It’s an extra layer of protection that both private and business users should implement to reduce the risk of unauthorized access even if someone manages to crack the password.
So, what’s the role of the inactive two-factor authentication report?
Sometimes, the two-factor authentication is set up but not active. In that case, the hacker may steal or crack your login credentials. Thanks to the password manager’s report on inactive 2FA, you can have an insight into the passwords where this protection layer is inactive and use that opportunity to turn it on.
2. How to Benefit from Password Health Reports?
A company can benefit from password manager health reports in several ways. When used correctly, these reports deliver the following advantages:
Raise Awareness of Data Breaches and Password Leaks
Once your employees see the number of unsecured passwords and hear statistics on data breaches, they will become more aware of the potential perils they may bring. You can encourage your team to work together on upgrading their security through passwords and foster a safe environment where everyone’s privacy is equally important.
Include It in Annual Employee Security Compliance Training
According to most companies’ policies, the annual employee training must meet the compliance requirements. It can be an excellent way to encourage your employees to adopt the best password protection practices and know how to use them to prevent security breaches and other mishaps resulting from weak passwords and passphrases.
3. Tips to Get the Best Out of Password Managers
A password manager’s capabilities go beyond securing passwords. We have already learned about the great benefits of password manager reports, but if you thought that you’d heard everything, you’re wrong.
Let’s see some tips for boosting your password protection and using it to create a super safe culture in your company.
Run Reports Regularly
One of the most common questions regarding password managers is, “When it’s the right time to run reports?”
There is no right answer to this question as companies adapt it to their unique needs and habits. However, a rule of thumb is to run these reports at least twice a month, but you won’t go wrong even if you run them weekly or monthly. Still, it’s important to dedicate some time to this activity from time to time because it can significantly change your safety culture for the better.
Encourage Employees to Conduct Their Own Security Checks
It’s vital to have your employees use their enterprise password managers to detect compromised passwords and react on time to prevent further inconveniences. They can use the reports to check whether their email passwords, credit card information or login credentials have been exposed or reused. This information can be a perfect reminder for them to upgrade their passwords and strengthen their security.
Conclusion
Don’t leave your security concerns for later, but take advantage of password managers to take your safety culture to the next level. We hope this article helped you understand the importance of securing sensitive accounts and encouraged you to take the first step to reinforce your company’s digital assets.
And remember – the time is now!
