Importance of Password Management for Small Businesses

We’re living in an age where cybercrime is a genuine issue. Criminals are more sophisticated than ever before, utilizing advanced techniques to steal company information for illicit gain.

This has raised the antenna of thousands of companies across the world, those that appreciate the importance of safeguarding employee and customer information from harm’s way. Businesses are adopting preventive security measures to secure information, an increasing focus in today’s internet-based operations.

With password management software you can store your passwords securely, offering added peace of mind which removes the requirement to remember several passwords.

But why exactly is using password management software so important? Here are some great incentives for utilizing a password manager:

Creating a Strong Password

People will generally choose simple options when it comes to password creation. Let’s face it, you probably won’t be particularly keen on creating a new password, where a simplistic approach will make you more susceptible to hackers.

Passwords are easy to guess when they’re formulated quickly, which is why manual password creation is often ill-advised. Today’s modern password-cracking software can cycle through countless combinations of numbers and letters to accurately determine basic passwords.

Passwords which were once considered secure are now easy targets. Fortunately, password management software will generate automated passwords which are more unlikely to be predicted correctly.

People aren’t very good at creating passwords for themselves. A secure password will contain a combination of uppercase letters, symbols, numbers and lowercase letters. Creating a unique password for yourself requires a level of patience and skill which many don’t possess.

There is a layer of complexity involved, one which discourages people from creating and memorizing a difficult password. With password management software, you can generate a secure password using advanced algorithms. This can be effortlessly stored on your device.

To Avoid Using the Same Password Repeatedly

Using the same password across multiple devices/accounts is a dangerous practice. However, it’s one quite often applied, where users tend to use the same passwords repeatedly so it’s easy to keep track of.

A single password can compromise a company’s security, opening the floodgates for hackers to steal information. Once a password is obtained, it can be used to sign in to multiple accounts, a worrying thought for big businesses.

With a password management program, users can apply different passwords to each service. This is great for damage limitation because if a single password is stolen it can only be used to log in to one account. Modern software will also monitor password usage and alert invested parties about when good password practices aren’t being applied.

Importance of password management

Easily Record Password Changes

Regularly changing your password is a sound security practice, but one which can eat into employee productivity. It also creates a need for users to make a note of their password somewhere, which in unlucky cases can lead to passwords being exposed to the wrong people. With a password manager, you can easily monitor password changes and updates, keeping track of passwords created.

They Protect Against Phishing Attacks

Cybercriminals commonly steal information using phishing attacks. Phishing emails appear to come from legitimate outlets but instead use established names as a disguise for soliciting your information. It’s important to note that if you’re being redirected to a login screen and something seems amiss, keep your information secure and avoid others capturing your passwords illegitimately.

Password managers aren’t prone to phishing attacks, meaning they’re a great measure for safeguarding against them. Your software won’t serve up a password unless the domain name matches the record within the password manager.

If you’re looking for a password manager, software like Last Pass is probably right down your street. It enables you to keep a central password vault with restricted access. Last Pass will then automatically log in individuals when as and when specific websites are visited. It’s great to leverage as a security measure because you won’t have to hand out passwords, nor change them too often.

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