Why You Need a Password Manager

Why You Need a Password Manager

Managing multiple passwords can be challenging, but a password manager provides a secure and convenient solution. The most used password is 123456, reflecting poor password hygiene. This is understandable given that the average person must manage 70-80 passwords. Common choices like 123456, iloveyou, and liverpool1 are weak and risky.

Passwords are deeply embedded in our digital culture, yet they must be both usable and secure. Poor password practices, combined with credential phishing, are a major cause of data breaches and can expose systems to malware such as ransomware.

What Is a Password Manager?

A password manager is a digital vault that stores passwords and sometimes additional sensitive information such as financial card details. Password managers can generate strong, unique passwords, pre-populate login fields, and simplify account registration, enhancing both security and usability.

Types of Password Managers

Mobile App Password Managers

Many mobile devices come with built-in password management, such as Apple Keychain and Google Password Manager. Specialist mobile apps can offer advanced features beyond native solutions, including stronger encryption, multi-device syncing, and enhanced password generation.

Cloud-Based Password Managers

Cloud-based managers provide secure access to passwords from anywhere, making them ideal for businesses with remote employees. Passwords are stored on secure cloud servers, maintained by the service provider. Subscription-based pricing scales with organisation size, and updates are easily deployed from a central console.

On-Premise Password Managers

On-premise password managers are hosted internally by the enterprise, useful when internet access is unreliable. While they provide greater control, they usually come with higher upfront costs and require ongoing IT maintenance.

Browser-Based Password Managers

Modern browsers such as Chrome and Safari offer built-in password management. Passwords can sync across devices, but cross-browser syncing is often unsupported. These managers are typically free but have limited features compared with dedicated password management solutions.

Benefits of Using a Password Manager

Prevent Password Reuse

According to a Google survey, 52% of people reuse passwords across multiple accounts, and 13% use the same password for all accounts. Reusing passwords is risky; if one account is compromised, others become vulnerable. Password managers can detect and prevent password reuse.

Create Strong Passwords

Password managers can generate complex passwords, protecting against brute force attacks. For instance, a simple password like 123456 can be cracked in seconds, while a 12-character password with upper-case letters, numbers, and symbols can take 34,000 years to break. Even strong passwords, however, remain susceptible to phishing, highlighting the need for additional security measures.

Prevent Logging In to Spoof Websites

Advanced password managers can detect spoofed websites and alert users, reducing the risk of credential theft.

Password Theft Alerts

Password managers can notify users if their credentials are exposed in a data breach, allowing immediate password changes. To check if your credentials are compromised, visit Have I Been Pwned.

Cross-OS Support

Many employees use multiple devices with different operating systems. Password managers with cross-OS support allow seamless syncing between devices such as iPhones, Windows PCs, and Android devices.

Easy Employee Offboarding

When employees leave an organisation, access rights must be removed promptly. Password managers enable rapid offboarding and centralised password updates, helping secure sensitive company data.

Protect Financial Data

Beyond passwords, managers can safeguard financial information, encrypting sensitive data while simplifying transactions.

Enhance Your Password Management with MetaCompliance Solutions

Using a password manager is essential for improving security and usability across your organisation. To complement password management, MetaCompliance offers a suite of solutions designed to protect your organisation, reduce human risk, and enhance cyber resilience. Our Human Risk Management Platform includes:

• Automated Security Awareness – educate employees on password security, phishing threats, and safe online behaviour.
• Advanced Phishing Simulations – test employee responses to phishing attacks and reinforce strong password practices.
• Risk Intelligence & Analytics – monitor and analyse password-related risks across your organisation.
• Compliance Management – manage access, offboarding, and policy compliance related to password use.

Integrating a password manager with these solutions ensures that employees not only use strong, unique passwords but also remain aware of potential threats. For more guidance on creating passwords that are secure and resilient, read Smarter Passwords That Hackers Can’t Touch and 10 Steps to Improve Password Security.

To see how these solutions can enhance your organisation’s password security and overall cyber resilience, contact us today to book a demo.