The password is still the most important verification tool that we use today for every private account we have online. With so much user data at risk and so many passwords to remember, password managers have become popular. These managers do what you’d expect, taking care of your passwords so you don’t have to. You only need to remember one, the password to the manager itself, and then you can generate random passwords for every connected account. They can be re-generated if a random password somehow becomes compromised.
Here are more details about how password managers work and why they are so effective at protecting data.
Passwords and Trustworthy Websites
The market for sellable user data grows with every person who comes to the internet, but many have become complacent when it comes to protecting their own information. This article from BusinessNewsDaily.com shows a rundown of how most data is used. Sure, every marketer is angling for user data, with the harm being a few targeted ads on your social media, but a compromised password can be much worse.
When a money account is compromised, a lot of damage can be done. Think of an Amazon account, where somebody can make purchases often without bank verification on your end, or any account that can store money via credit, like an online casino. Without the right security measures, hackers can access your money.
Then there is the risk of identity theft. Sometimes, it’s your name and social security number that bad actors are after. Hackers can use this type of information to take out debt in your name and cause considerable harm to your life.
It is not only up to the users and the creation of strong passwords. Sites that handle money or data obviously need rigorous security measures, so they have stringent data protection features and keep users well informed of any changes to their accounts. Those services quickly rise to the top of reviews and peer ratings, getting a good reputation. Websites like CasinoReviews.com allow users to find the most secure online providers. They use a star rating and break down payment methods, customer service, and verification requirements. The same exists for data-safe sites that won’t leak sensitive information.
How Password Managers Work
Password managers are third-party services working through desktop or mobile apps to store passwords, with the most secure options generating random passwords. Some will also store other data like bank card numbers. The aim is to stop users from using the same password across the internet.
Instead, you choose one code and set it as the master password to enter the manager itself, and then the manager takes care of the rest. If working with multiple people, you can share passwords and other data via the manager too.
Generated passwords are cooked up on a zero-knowledge basis. This is where the password is encrypted so not even the verifying party can read it, including the manager that created it in the first place. Remember, just like choosing the right websites, using reputable and well-received managers is also important.
If you own a website, here at MeritLine.com, we have a rundown of vulnerability testing tools.
How to Protect Your Password Manager
Once a password manager is ready, it’s important to take steps to protect the manager itself. While the best option, managers are at risk of being a single point of failure, a concept well explained at Parallels.com. If a bad actor gets into it, then they could have access to everything.
That’s why you need to follow these three tips to give your password manager the most protection possible.
First, your most important password needs to be long and strong, including capital letters, numbers, and other punctuation symbols. Most users are already familiar with this, especially if they have experience in juggling dozens of passwords. If you are the forgetful type, you can write the password on paper and store it somewhere where no hacker can see it.
Second, make sure to keep your password manager updated. Updates stamp out vulnerabilities that could be exploited, so having an outdated version may put your manager at unnecessary risk. This goes for all software that you are using, by the way.
Last but most importantly, enable two-factor authentication. This stops that single point of failure problem since it alerts a new device to verify entry into the manager. If that’s your phone, then bad actors can’t get in unless they’ve compromised that too, which is very unlikely without you noticing.
That’s everything wary users need to know about password managers and what they can do for us and the wider data ecosystem. Keeping your passwords safe is the first and last line of defense, and a manager makes it so much easier.
