Why You Should Be Using LastPass or Similar Password Manager to Secure Your Accounts
74% ofdata breaches involve the use of hacked or stolen account login credentials. Passwords have been a problem for individuals and businesses for a long time. Most users have far too many passwords they have to remember on a regular basis. That fact is at odds with the need to make all passwords strong and unique for each login. While the goal for password security may be to have login passwords that aren’t reused and are a combination of letters, numbers, and symbols at least 10 or more characters long, the reality is very different. While system monitoring can help detect intrusions, if a cybercriminal has legitimate user login credentials, they can do a lot of harm to your business, including:
Planting ransomware or other malware
Using your business email account to send phishing and spam
Stealing or destroying business data
Accessing your company bank accounts
Planting spyware that you’re unaware of and accessing information over month or years Because of the difficulty with remembering passwords, many users leave their company data security at risk by adopting bad password habits. Lack of a good corporate credential security policy can contribute to the risk.
54% of users reuse passwords across personal and business accounts
59% of organizations rely on human memory for password management
51% of employees share their passwords with colleagues How does a Texas business get a handle on password security without slowing down productivity? Using a business password manager like LastPass can ensure all logins are using strong passwords, each password is unique, and employees won’t have to remember them all.
How Can LastPass Password Manager Help My Business? What a password management application does is act as a secure, encrypted vault for all user passwords. So, employees only have to remember a single master password to access all others. Password managers are an affordable way to significantly improve your company’s cybersecurity and reduce account breaches. We recommend LastPass because we feel it’s the best and most flexible out there. Here are some of the ways that it can help your business.
Stop Weak Passwords from Being Used Many user passwords are weak and make it easy for hackers to crack them and gain entry to user accounts. LastPass can auto-generate strong passwords for users that are randomized and difficult for hackers to breach. By using the generator, users can easily ensure that every password they’re using is unique for each account.
Users Only Need to Remember a One Strong Password/Passphrase LastPass keeps all account passwords securely stored, so users can access them when needed across devices and browsers. Instead of having to remember multiple passwords (which leads to weak and reused passwords), users only need to remember the main master password to get into their password manager.
Improve Employee Productivity In a user survey of password security, 78% of respondents said that within the last 90 days they had to reset a password they’d forgotten. Going through password resets can mean a few minutes here and there throughout the week, and all those minutes add up to lost productivity. Using a password manager eliminates the need to reset forgotten passwords, because they’re all stored in each users’ password vault and easily accessible.
Don’t Get Locked Out of Company Accounts Have you ever had an employee leave unexpectedly and find your team is locked out of an important application because that employee was the only one that knew the password? Using a LastPass business account allows you to appoint an administrator that can access employee passwords to your business accounts as needed, so you won’t get locked out of your own company assets.
Have Full End Point Access Visibility LastPass acts as an end point access manager that gives you full visibility into both on-premises and cloud application access by computers and mobile devices. Endpoint access management is more important now than it ever has been due to employees increasingly using mobile devices and working remotely from home. Your administrators can easily monitor access to your sensitive data and also have the ability to remotely revoke device access if needed to any of your business accounts.
Store Other Sensitive Data How does your company handle office purchases? Does your accounting team email or text credit card details to the employee needing to make the purchase? Insecure methods of sending digital records can lead to that information being compromised. LastPass can be used to store other sensitive data, not just login passwords. You can use it for securely storing and sharing as needed information such as:
Company credit card details
Website FTP details