With so many accounts required on an everyday basis, it’s no surprise that people often struggle with passwords and password security. One way that individuals try to manage the countless passwords used on a daily basis while keeping them secure is through the use of password managers. What does a password manager do, and why should you consider implementing one for your business?
What is a Password Manager?
A password manager is essentially an encrypted password vault that lets you store passwords for multiple accounts. Password managers can be used on desktops, laptops, and even mobile devices. These password managers are typically governed by a master password that is used to access the credentials locked safely therein. You can think about it like consolidation, in a sense, using one incredibly secure password–possibly backed up by two-factor authentication or biometric technology–to protect the rest. It’s a fail-safe method that basically makes it so that one password getting compromised is not the end of the world for the rest of your accounts, too.
Password managers are particularly useful because they allow you to utilize multiple complex passwords while only needing to remember one. Oftentimes employees who are required to remember multiple complex passwords will resort to creating just one which they will use for every single one of their accounts. This is an inherent security risk. If these credentials are compromised in a data breach, cybercriminals theoretically have access to every account that uses it—and it doesn’t take a rocket scientist to try one password for multiple accounts.
Why Use a Password Manager?
We say this all the time; the password is only the first line of defense against any security threats. Therefore, your business’s network security can be directly attributed to the security of its passwords. Using a password manager allows you to create and store complex passwords for multiple accounts in a way that is easy to access (for you) and incredibly secure. It just makes sense to use a password manager, especially if it makes your day-to-day responsibilities easier and more efficient.
Plus, business-class password managers often allow passwords to be centrally managed, so managers can push certain passwords out to employees that need them, and restrict access if needed.
Ultimately, there is really no reason to not use a password manager. Not only does it make storing passwords more secure, but it also makes it much easier to implement complex passwords, thereby increasing account security even further. It’s just one more example of how modern technology can improve the user experience in both a personal and professional environment.
Get Started with a Password Management System Today
When it comes to your company’s passwords, you cannot skimp on security. Setton Consulting can equip your business with a great password management solution that is designed to keep your business as secure as possible. To learn more, reach out to us at (212) 796-6061.