PASSWORD PROTECTION

WHAT ARE PASSWORD VAULTS?

 

A password vault, also known as a password manager or password locker, is a software application designed to securely store usernames and passwords for various accounts. These credentials are encrypted for protection. Users can access all stored information using a single “master” password. This system encourages the use of complex passwords, as users only need to remember one master password, reducing the risk of passwords being stolen or compromised.

 

WHY ARE PASSWORD VAULTS IMPORTANT?

 

In companies all over the world, people still use weak passwords or reuse the same password across multiple accounts. Such practices enable cybercriminals to steal passwords and easily breach enterprise networks. Passwords with privileged access are particularly attractive to cybercriminals, as they can use this single “key” to access numerous resources for malicious purposes. The risks of such attacks increase when organisations don’t properly manage their passwords. A password vault is one way for organisations to minimise the risk of password-based cyberattacks.

 

PRIVILEGED ACCESS MANAGEMENT – PAM

 

A password vault is a key element of Privileged Access Management (PAM). It is ideal for organisations that need to securely protect user accounts in a centralised manner. The application is user-friendly, as users don’t have to remember multiple passwords. It also helps enforce password best practices and protects the enterprise from external threats. PAM is best suited for enterprises that need to monitor, manage, and protect privileged accounts. PAM isolates the control and use of privileged accounts with granular Role-based Access Control (RBAC) to minimise the risks of accidental or malicious credential misuse. PAM also enables organisations to automatically create audit logs and meet compliance requirements set forth by GDPR, ISO/IEC 27001, and other standards. PAM consists of a password manager, an access manager to manage user access, and a session manager to detect, prevent, and terminate suspicious activities. When implemented as part of a broader cybersecurity strategy, PAM can reduce the overall attack surface and mitigate security risks.

 

MAIN BENEFITS OF PASSWORD VAULTS

 

Here are the nine main advantages of using password vaults or password managers in your business.

 

  • One password to rule them all – Stores all your passwords in one account. The master password is the only one to remember. You can link it with biometrics for fingerprint access.
  • Generate random passwords – Creates strong, random passwords for each account. This protects against password cracking programs.
  • Simple access to multiple accounts – easy login with a browser extension that autofill logins securely.
  • Easily change your passwords – Simplifies password changes and resets. You can use a built-in password generator for new passwords. Some managers can reset passwords with one click. You also have the option to periodically change all passwords for optimal security.
  • Use the convenient autofill feature – Safely stores personal details for form autofill, instead of using the web browser.
  • Share passwords securely – Allows you to share passwords for joint accounts with family or co-workers. You can control who has access to shared passwords.
  • Store more than just passwords – Securely stores answers to security questions, shopping profiles, memberships, medical prescriptions, and more.
  • Use the same password manager across multiple devices – Provides access to passwords across mobile and desktop devices and supports app passwords.
  • It’s time to take IT security seriously – Secure, frequently updated passwords are effective protection. Password managers generate robust passwords to guard against reputational damage and loss of revenue.

 

WHICH PASSWORD VAULT SHOULD I CHOOSE?

 

There are a plethora of password vault vendors to choose from. In 2024, these are considered to be five of the best.

 

Password Vault Features Entry-level cost
NordPass ·       Data breach scanner

·       User-friendly

·       Anonymous payment options

·       24/7 live chat support

£1.79/user/month
1Password ·       Dark Web scanner

·       No device limit

·       Easy password sharing

£6.19/user/month
Dashlane ·       2FA

·       Dark Web scanner

·       Built-in VPN

·       Military-grade encryption

£3.86/user/month
Bitdefender PM ·       Secure password vault

·       Robust password generator

·       Auto-fill and auto-save

£2.31/user/month
Norton ·       All-round protection

·       Biometric login options

·       60-day money back guarantee

£19.99/user/year

 

SECURE YOUR PASSWORDS

 

As a London cyber expert and IT thought leader, I have 20 years plus of experience in IT support, specialising in data protection, compliance and network security. Let me handle your IT hurdles, including your password management, freeing you to concentrate on your primary business endeavours with peace of mind. Empower your teams, boost productivity, and enjoy the advantages of my proactive support approach. Get in touch today and let’s get you protected and stay protected.

 

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