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Published on:
23 February 2023
Author:
TechPath
Why You Need a Password Manager For Your Business and Personal Life
Recalling passwords is a game of memory that most of us have long since lost. Sure, we remember a few that we use most often – perhaps our Microsoft password, and the PIN number for our phones, but if you count up how many passwords we now use in a day, it becomes quickly apparent why we spend a lot of time resetting them. That limitation is just one of the reasons why using a password manager is necessary if we are to avoid some of the consequences.
What can happen if we persist without a password manager is a less secure approach. We may not change passwords frequently or make them too simple or predictable. We might follow a pattern – and don’t think hackers don’t know that you’re using names of all the players in your favourite football team, or a list of colours in the rainbow.
In the workplace, of course, we are getting somewhat wiser. Companies usually enforce password policies more rigorously. The thing is, though, the boundaries have blurred between work and personal life. We use the same devices, we may use the same social media accounts, and we certainly juggle the two on a daily basis.
So, how can using a password manager help make our online worlds more convenient and more secure?
- A password manager will automatically create randomly generated, complex passwords that are more secure and less predictable.
- You don’t need to have the memory of an elephant – a password manager remembers all your passwords for you.
- When we set up a new device, a password manager lets us avoid the annoying process of logging into every app (after resetting all forgotten passwords first).
- Some measure password strength, checking across a database of compromised passwords to alert you to any breaches and recommending changes – some will even change your password for you if there has been a breach.
- Secure password sharing is made possible in situations where a group of co-workers or family members need to access the same account. Some password managers can even prevent those group members knowing the password itself.
- You can securely store details like credit card details and addresses, so that you can fill out forms with just a click.
- It can save time – password managers cost around $9 per user, per month, which is far less than the labour cost of manual password management.
- Emergency access is a great feature with some password managers. You can set up a trusted person as next of kin – for example, if something needs my authorisation in an emergency, a user may set up their spouse, or their business partner, as a recovery person.
- You can integrate with Microsoft 365 so your Microsoft 365 credentials authenticate the password manager. You don’t need to remember any more passwords, and just access what you need securely (don’t forget to use multi-factor authentication here).
- It is easy to add and remove people in a business plan, assign them to groups, and view an audit trail of what apps have been accessed by users. Aside from increased security, this can be handy information when you’re planning software licence purchases, so you don’t buy what you don’t need.
- Business plans may include a free personal subscription, so that home is covered along with work. When your users are better protected in their personal online activities, it ultimately keeps your business environment safer as well, and creates a more cyber-aware culture.
After so many high-profile breaches hit headlines over the last couple of years, there can be no doubt that security breaches are costly, both in dollars and in reputation. The cost of endlessly forgetting and resetting passwords, and the frustration involved, can prove expensive too. With this in mind, a password manager should be considered an essential business tool that will improve the personal and business life of anyone with a less than perfect memory.