In the modern digital world, managing passwords has become increasingly complex. Cyber security experts recommend having a different password for each account but with so many different applications (mail, accounting, banking, utilities etc.) how on earth can you remember them all? And when you’re busy running a business, it’s easy to fall into bad habits e.g. reusing the same passwords, writing them down, or using weak ones. So, what’s the solution? Use a password manager.
Once the domain of only the tech-savvy, modern password managers are very user friendly and many offer features ideal for Small & Medium Enterprises. Here’s why CIBIS recommends using a password manager:
Security
Password managers generate complex random passwords which are hard for hackers to crack but also hard for us to remember. Most password managers automatically remember the generated passwords for you and even keep a history of all the passwords generated.
Many password managers also offer two-factor authentication be it via biometric means (e.g. fingerprint or face recognition) or using an authentication tool.
Password Reuse
A password manager will generate a unique password for any new account. The problem with password reuse is that if one account gets hacked, a hacker potentially could use that password to access other sites. Some digital services don’t have the same level of security as others, and some are a bigger target for hackers. If you’re using the same password for your banking as you are for buying stationery you should change it ASAP.
Some password managers will warn if you’ve reused your password, and some can check your passwords against well-known breach databases like haveibeenpwned.com/
Convenience
Instead of having to type long complex passwords, or copy and paste when accessing a website, passwords managers will fill them in for you automatically. Most will also allow automatic filling of other information like credit card numbers, bank accounts and address details.
Synchronization
Many password managers allow secure synchronisation of passwords across all devices e.g. desktop, tablet, phone and even across operating systems e.g. windows and mac. Aside from the convenience of having this information on every device, it means you’re less likely to fall into the bad habits we mentioned earlier when using a different device.
Access Control
Password managers designed for business may include additional features such as only being able to access to passwords during work hours.
Maintenance
Good passwords managers will warn you to update your passwords regularly and remind you of weak or outdated passwords as well as duplicate passwords. These tools are proactive in helping you protect your cybersecurity. Advanced password managers can act as a gateway to your key systems and automatically change passwords for you on a predefined schedule.
Cost
Password managers are very reasonably priced especially when you consider the potential cost of not using one. Whilst there are free ones available, a good business password manager will set you back a few dollars per month for each user – well worth it in our opinion.
Conclusion
Using a password manager is one of the easiest and most effective ways to secure your company’s digital assets. A password manager helps you to generate and manage strong passwords for every account, controls employee access to passwords, reduces the risk of breaches, and makes it easier to access your passwords across all your devices.
CIBIS International is an ISO27001 certified company, representing our commitment to information security. Choosing CIBIS to provide a cloud solution means trusting your data with an organisation that adheres to a robust set of security policies and procedures. We worry about security, so you don’t have to.
