5 Reasons to Invest in a Password Manager

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Deciding on a password can be daunting. Coming up with random alphabets and numbers may be too confusing, and the last thing you want is a complicated password to remember. This is why most users stick to easy-to-memorize details like your partner’s birthdate, your best friend’s name, or the country you grew up in. 

While all of these make for valid passwords, they’re highly predictable and not challenging for hackers to figure out. According to Google statistics, more than 60% of US adults have easy passwords. Out of these, nearly 40% use their pet’s name, and nearly 50% have shared their pet’s name on at least one social media platform. So your best defense is to keep all your online data safe by choosing a complex and highly random password. But if you’re worried about trying to memorize this combination, don’t be. This is where a password manager comes into play. Here’s how this robust tool helps you manage your accounts:

What Is A Password Manager?

A password manager is a software that allows individuals and businesses to store all their passwords in one place. All you need to do is remember the master password, which unlocks the manager and lets you further access other passwords. So if you’re wondering, is password manager safe, the short answer is yes. This robust tool works with encryption. When your system is locked, your data is encrypted and cannot be studied even if a hacker finds a way to get into the database. The password manager also doesn’t save the master key. This will remain with you, and your data will stay locked and stored away unless you enter it. 

Why Should You Invest Into A Password Manager?

Digital data is limitless. At a time, you may be managing several accounts, have multiple email addresses, or on a commercial scale, have numerous confidential details like customer information, documents on financial assets, and trade secrets that need to go behind a password. Individually remembering these passwords is not easy, and you may risk a data leak if you write them on a sticky note leaving it open in plain sight. So once you purchase a password manager, you effectively tighten security and eliminate memorizing long and tedious passwords. But the benefits don’t end there, here’s what you need to know:

You Can Add Two Factor Authentication

Two-factor authentication is a type of security measure that provides you additional protection when accessing any data as. You can either use biometrics, unique identifiers like your fingerprints and face or register a device like a phone to help you authenticate your login. So before you can use your password manager, you may be asked to scan your finger or have to sit for a facial scan before accessing the system. You also get a notification if the system detects suspicious activity like a third party trying to bypass the security details. This can prevent crimes like phishing. 

Creates Unique Passwords

People like to play it safe. Despite knowing the security threat predictable passwords pose, you will still find people using the most effortless string of words and numbers to use a password. This is not a good practice whether you create a password for yourself or your business database. But by using a password manager, you get to create a unique password every time you need to create an online account. Additionally, you can upgrade older passwords and use the password generator to make the most unusual set of numbers, symbols, and letters. Still, since you don’t have to remember them, it doesn’t matter what these passwords look like. This is extremely useful for employees who stick to poor password-saving habits. 

Frequent Backups and Shifts Data Into Cloud Storage

Password managers use the cloud. So there is no chance you’ll lose all your unique passwords and access to your various accounts. The backup keeps data up to date and prevents patches in the software, which increases the risk of getting hacked. Cloud computing also allows you to use more than one device anywhere in the world. Therefore, if you wish to go on a holiday and work, you can still take your devices. 

On a commercial level, this allows your company to outsource work, encourages remote working, and reduces the need to make physical backups, saving costs. The centralized cloud system also helps you control when your employees can access data and lets you decide what information should be available to your diversely ranked employees. 

An Auto Login Feature

Password managers save your username and password, which allows you to auto-login. While this may not seem like a big deal on an organizational scale, you save time and money when your employees access the database within seconds. It also saves you the hassle of typing the master password, and you can start working immediately. In businesses, when several databases are connected, auto login helps you unlock them without requiring manual input. This is because the password managers detect your activity and respond automatically.

Helps You Establish Good Password Habits

Your password plays a vital role in protecting your online data. It is the lock on all critical information about you and your company. So while it’s easy to pick a short password, the risk is not worth jeopardizing your safety. A password manager is a quick fix in these circumstances. You can protect your data by investing in a good password manager and letting it handle security for you. 

However, following the way the password manager keeps your account safe, you should try establishing healthy practices for your safety. Try not leaving the master key password around where it is accessible to anyone. Don’t look towards predictable passwords; focus on creating unique passwords for all your accounts. After a month, you should try changing older passwords and ensure they’re all strong in strength. Furthermore, if your password manager has any updates, tend to them immediately. 

Final Thoughts

Passwords help you protect confidential information only if you know how to write one up. One of the most crucial mistakes users make is going for short and predictable passwords that are easy to figure out. So if you’re confident you cannot develop a unique set of characters, look towards password managers for help. This software allows you to centralize all databases behind one passcode, making it extremely useful for businesses. 

By using a password manager, you can generate individual unique passwords, utilize two-factor authentication and get a chance to understand managing better and create a password. Additionally, these managers work with the cloud, which allows you to share projects and save on older documents and information. 

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