What do you know about passwords? If you own a computer, tablet or smartphone, you know that passwords protect our personal information on email accounts, social media, online banking, etc. I hope you also know they should be kept secret and not shared with anyone. You may know it’s important to create strong passwords that are hard to guess, using a mix of letters, numbers, and symbols.
The Risk of Reusing Passwords
Such is human nature that we look for easy ways and tend to reuse our passwords. However, using the same password for everything is not a good idea because if one gets hacked, others could be at risk, too. It is because once a hacker compromises one account, they can often use that password to try and get into your other accounts. Therefore, using a strong, unique password for each account makes great sense.
However, creating and remembering many unique, complex passwords can be overwhelming.
The Benefits of Password Managers
This is where password managers step in. They not only store and organize all of your passwords securely in an encrypted vault, but they also assist in creating strong, unique passwords for every account, ensuring that you’re not reusing the same password across multiple services.
One key benefit of password managers, beyond password storage, is their ability to recognize legitimate websites and help protect you from phishing attacks. Phishing occurs when cybercriminals create fake websites or emails to trick you into entering your credentials, believing it’s a legitimate website (like your bank or an email service). These fraudulent sites often mimic real domains closely, sometimes with just a tiny alteration that a human eye might miss.
How Password Managers Protect Against Phishing
Password managers automatically fill in your login credentials only on the exact site address (also called URL) you’ve saved in the vault. If a phishing site tries to impersonate a legitimate website but has even the slightest difference in the URL, the password manager will not autofill your credentials, signalling that something is wrong. The autofill feature works as a layer of protection against phishing. While human users can be tricked by look-alike URLs (such as “www.paypa1.com” instead of “www.paypal.com”), a password manager will identify the difference and refuse to enter your information on the fake site.
Additional Benefits of Password Managers
Password managers also offer:
- Password Generation: Most password managers have built-in tools to generate strong, random passwords for you, ensuring each account is as secure as possible.
- Cross-Device Synchronization: Many password managers sync across devices, making it easier for you to access your credentials safely from your phone, computer, or tablet.
- Encrypted Vaults: All your passwords are stored in an encrypted vault, accessible only via a master password (and, in some cases, two-factor authentication), keeping them secure from unauthorized access.
Summary
By using a password manager, you significantly reduce the risk of compromised accounts due to weak or reused passwords. Plus, the phishing protection provided by the autofill feature helps prevent hackers from stealing your credentials. In essence, a password manager enhances your online security in multiple ways, making it an indispensable tool for individuals and businesses.