What You Should Know About Password Managers

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Password manager tools are an excellent resource for both personal and business use. With cyber-crimes rising, now more than ever it’s crucial to keep sensitive data like passwords safe from hackers and cybercriminals. A leaked password can wreck all sorts of havoc on your life; from exposing personal data like credit card or bank information or even giving a stranger total access to the privacy of your social media accounts.

If you’re running a business, you should be taking the security of your passwords very seriously. If you’re handling sensitive customer data, you could be held liable for any breaches in security that put the information at risk. The best way to manage and secure your passwords is by using a password management tool.

Here’s a short guide on everything you need to know about password managers.

Greater Organization

Just about every website, app, or online feature today requires some kind of account. The number of accounts you have to keep track of can add up quickly; you’ve got social media accounts, bank and credit card accounts, streaming services, online shopping accounts, and more. That’s a lot of passwords to write down in a book or keep in a note on your computer or phone.

One of the easiest and most secure ways to organize passwords is with a password manager. Your passwords will be encrypted and organized by website, and some password management tools even have features that allow you to sign in to any website with the click of a button.

Unorganized and unsecured passwords carry the highest risk. Imagine looking all over the place for your Facebook password, only to find it written down in a .docx file from six years ago stored on your laptop. Not only does this make things more difficult for you when you’re trying to locate old passwords, but it also makes it that much easier for cybercriminals to steal your information.

You can choose a free online password manager like Keeper or LastPass to organize and secure your passwords. These apps also have premium/business options for greater security and more features.

Password Generation

Password managers also offer a great feature called a password generator. Creating secure passwords can be difficult, especially when we tend to use the information we know we’ll remember (like birthdays, anniversaries, addresses, etc.). This is generally poor practice for creating passwords because if a thief can get ahold of your birthday or social security number, they can figure out most of your passwords.

Password generators will combine letters, numbers, and symbols to create a strong password for any website. Then, your new password will be saved within the password generator itself, which is protected by your custom master password.

Your master password should not contain any of your personal information like birthdays or important dates, either. After all, if they manage to figure out the master password, they’ll have easy access to all of your other passwords!

Higher Security

Password managers have their own high-end security measures that are designed to keep your passwords safe and secure. By doing so, you’re keeping all of your personal info safe and secure by default. Higher security measures mean earlier detection of hackers and more steps to go through to break through.

Why would you leave your passwords in a .docx document or written on paper when you can have the power and security of a password manager behind you? Most of these tools are free, so you won’t even have to spend any money to drastically increase your security measures.

Cyber Crimes Are On The Rise

As we become more and more dependent on digital tools like our smartphones and our connection to the internet increases, cyber crimes also increase. It’s estimated that about four billion people on the planet have access to social media, and more than 2/3 of the world’s population uses the internet on a daily basis.

Cybercrime damages are projected to reach about six trillion dollars by next year, the experts say. From security breaches and the cost of correcting them to stolen bank and credit card information, cybercrimes can cause massive financial damage to businesses and personal data streams.

While protecting business data isn’t the average person’s responsibility, each of us can play a role in reducing cybercrimes as much as possible. The first step to solving this problem is securing personal information such as passwords, to make our information less easy for cybercriminals to get ahold of.

If you’re not using a password manager, it’s time to take control of your data and add an extra layer of security to your personal information. Check out password managers like Keeper for an easy, free, and secure option that will leave you feeling much safer each time you log on to your favorite sites.

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