The vital role of strong passwords and password managers

In today’s digital workplace, cyber security should be a top priority for all organisations – no matter what their size.

As we enter the second week of Cyber Security Month, we want to shed light on a fundamental aspect of protecting your organisation – the use of strong passwords, plus the invaluable support offered by password managers. We’ll explore why this combination is crucial for small to medium-sized organisations across the UK.

Let’s start with some eye-opening facts:

1. More than 6 in 10 people admit to reusing passwords (LastPass, 2022).
2. The most common password is “123456” (Reader’s Digest, 2023).
3. 27.5% of individuals state their oldest password is three to five years old (Beyond Identity, 2021).

These statistics paint a worrisome picture of password security. Many individuals still rely on weak and easily guessable passwords, putting their accounts and businesses at significant risk.

Using weak or commonly-used passwords can have dire consequences. Consider this:

• 96% of the most common passwords can be cracked by hacking tools in less than one second (Digital Shadows, 2022).

Such vulnerabilities can lead to data breaches, financial losses, and damage to your business’s reputation.

Creating robust passwords is the first line of defence against cyber threats. Here’s why it matters:

• Crafting strong, unique passwords for each account is crucial.
• Adding a single special character to a common 10-character password can increase the time it takes for hackers to crack your password by 1.5 hours (Digital Shadows, 2022).

These simple steps significantly enhance security.

To create a strong password there is a simple and easy solution. Read the National Cyber Security Centre’s article on why using the strategy of ‘Three random words’ really is best practice when creating a strong and secure password.

These are a powerful ally in the battle for password security – password managers.

They offer:

1. Secure storage for all your passwords.
2. Automatic generation of complex, unique passwords.
3. Easy access to your passwords across multiple devices.

Password managers take the hassle out of managing passwords, making it convenient for you and your team.

Here are some best practices to implement:

• Use a password manager to generate and store complex, unique passwords for each account (Security.org, 2023).
• Educate your team about password security and the benefits of password managers.
• Regularly update passwords, especially for sensitive accounts.

It’s essential to educate your employees about password security.

• Only 10% of consumers reported using a password to log in to their social media accounts in the past 60 days (FIDO Alliance, 2022).
• 1 in 10 individuals believe that someone could correctly guess their passwords just by looking at their social media accounts (Beyond Identity, 2021).

These statistics highlight the need for comprehensive cybersecurity training and awareness programs within an organisation.

Strong passwords and password managers are integral components of good cyber hygiene for your organisation. By implementing these practices and educating your team, you can significantly reduce the risks associated with weak passwords and enhance your overall security posture. As we celebrate Cyber Security Month, let’s prioritise the protection of your organisation and its data.

Remember, we offer cyber security awareness training and if you are one of our Managed IT Support clients we run a FREE monthly online session for you and your colleagues.

References

– LastPass, 2022.  – Reader’s Digest, 2023.  – Beyond Identity, 2021.  – Digital Shadows, 2022.  – Security.org, 2023.  – FIDO Alliance, 2022