The simple answer: Absolutely. Verizon released a data breach investigation report that stated 81% of hacking-related breaches leveraged weak and/or stolen passwords. So how does password management software work? Find out now…
Verizon’s data breach investigation report also found that over 70% of employees reuse passwords. Despite the fact that most people are aware that reusing passwords is a poor practice, it’s still commonly done, even in the workplace. Why? Because is there anything more frustrating than trying to remember 10 different strong, complex passwords? After all, we’re also taught that writing them down and keeping them somewhere is a poor practice as well. But a single data breach can have HUGE consequences for the entire business. That’s right… A single employee’s mistake can leave you and everyone who works for you struggling with:
- Significant reputational damage
- Loss of revenue
- Operational disruptions
- Lay-offs due to lack of profits
- Fines and/or lawsuits
- And much more
Password management is more important than ever before nowadays. As cybercrime continues to evolve with hackers attacking networks at a rate of one network every fourteen seconds, you simply can’t afford to leave any areas open to be exploited. Sure, you’ve talked to your employees about best practices in terms of passwords, but are you actually empowering them to follow best practices?
A Password Management Software Empowers Your Staff Members to Use Strong, Complex Passwords in a Realistic Way…
Let’s be real: It’s simply not realistic to expect employees to use a strong, complex password for each and every account and/or services they need to access. How are they supposed to remember multiple different passwords without writing them down? They’re told to use strong, complex passwords, but don’t share them or leave them out for others to see, right? A password management software gives them a realistic way to follow best practices, and ultimately, help you keep your livelihood safe against hackers.
A password management software acts as a digital safe for passwords – giving all of your team members the ability to create different, strong passwords for each account and log into them or share them with other co-workers who need access via the software. Each person receives a “master account” that uses one password – the only one they need to remember – to access all of the different accounts and/or services and their relevant login details. Sounds simple, doesn’t it?
That’s because it IS simple. A password management software not only simplifies following best practices, but it keeps you safe with:
- Support for two-factor authentication wherein each account can be setup to require supplementation with a second form of identity, such as an answer to a question or a PIN code sent to the user’s phone.
- Anytime, anywhere access via the cloud with desktop and website applications that gives your team members the capability to access their login details for all accounts and/or services from any device and/or location.
- Reminders to update passwords on a regular basis as many password management programs are capable of reminding your employees to change their passwords at an interval chosen by you.
- Greater ability to keep track of compliance as you’re able to maintain visibility into each employee and their password behaviours to ensure they’re following proper protocol for compliance purposes.
Remember, a password isn’t secure unless it’s unique to that particular account and/or service – containing 12 characters with a mix of numbers, symbols, and uppercase/lowercase letters. It’s simply not realistic to expect employees to follow this best practice without giving them the tools they need to succeed.
All it takes is one leaked password to take down your network. Let’s give your team members the password management software they need to follow best practices.
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