Over the last few years, lax security standards have given way to a plethora of cyberattacks that result in lost money and data for businesses around the world. The problem is so dire that even the US government recently invested a hefty sum to bolster cybersecurity research, and if Uncle Sam is opening his wallet to invest in a more secure online experience, you probably should too. Still, this new study shows that everyday users simply don’t understand how tools like password managers can make a huge impact on securing your data online, whether you’re an individual or a business. Simply put, with free options abound and online security not being a readily pressing issue until it’s too late, it’s understandable that many users wouldn’t “see the point” of password managers. Unfortunately, the reality is that these online tools can make a big difference for your personal or professional security. To make matters worse, the most popular password in 2021 was “123456” and a study found that a huge percentage of users will abandon a website if asked to use more complex login credentials for their account. Subsequently, complex passwords are the only way a password can be truly effective, as one study looked into how easy it is for hackers to gain access to your accounts. For one, they don’t just store your passwords anymore. Password managers like LastPass offer tools like dark web monitoring to ensure your data isn’t floating around on the world wide web, flexible sharing options to keep you safe even when someone else needs to access your account, and encrypted storage for those extra important documents. They also have a wide range of business-facing features, which is important considering 81% of business security breaches are due to weak password security. You’ll be able to eliminate password reuse by employees, manage all passwords from a single spot, and generally protect company data in a more meaningful way. Suffice it to say, we recommend using password managers, even if you “don’t see the point.”
