Businesses of all sizes need to prioritize cybersecurity to protect sensitive data and prevent data breaches. Passwords are the first line of defense against unauthorized access to your network, making password management a critical part of any cybersecurity strategy. We want to share some stats and reasons why password management is important.
How Can Altek Help?
We can monitor your accounts and run reports to review with you. We can also include it with our proactive, quarterly Managed IT meetings. Let’s learn more!
SOME STAGGERING NUMBERS
rely on sticky-notes for password management
shared their password with someone
reuse work passwords for personal accounts
claim to understand the risk
Password management tools generate and store strong unique passwords for each account, reducing the risk of password-based attacks. Strong passwords use a combination of upper- and lower-case letters, numbers, and special characters. A tool password management tool like LastPass can create and store passwords for you that are a 100-characters long!
MULTI-FACTOR AUTHENTICATION (MFA)
Password managers often provide additional security measures, such as MFA, to ensure that only authorized users can access sensitive information. If specific rules such as logins outside of your home state are in place. The Hacker will be greeted by a code request to login to your account.
A password manager eliminates the need for employees to remember multiple passwords for various accounts, reducing the risk of password reuse or forgotten passwords. It is very common to find employees using the same passwords for various software used internally by the company. This can make you extremely vulnerable, especially if these passwords are set to never expire. A password management tool will generate new passwords, store, and prompt you when it is time to change and update your passwords.
Password management tools provide centralized management of passwords, allowing administrators to control access to all sensitive information and make sure each employee follows best practices when it comes to password management.
Many industries have specific regulations regarding password management. Non-compliance can cost the company huge fines and damage to their reputation. It is not only the company’s information that is at risk, but also the company’s customers. If a customer can track a cyber attack back to a company, they do business with, it can lead to further legal action if compliance was an issue.
DATA BREACH PREVENTION
Password management tools can reduce the risk of data breaches caused by weak or compromised passwords. Over 80% of data breaches are caused by compromised passwords. Many of these compromised passwords are sold on the Dark Web.
Reasons for Our Dark Web Protection
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Is it okay if my are employees using the same password across multiple accounts?
We can’t emphasize this enough – you must use strong, unique passwords. Empower your team to recognize threats and respond accordingly. While employees may have moved on from your organization, their company issued credentials can still be active and valid within the 3rd party systems they used while employed. In many cases, the 3rd party systems or databases that have been compromised have been in existence for 10+ years holding millions of “zombie” accounts that can be used to exploit an organization.
What’s the best action plan to keep your credentials on the Dark Web?
We encourage 2FA authentication for more security. Continued monitoring of the Dark Web and backing up your data to an offsite secure location with regular testing.
Are my credentials for sale on the Dark Web?
We can provide a full, detailed scan based on your email and contact information. Should we find a concern, we can take action for you.
Systematically explore all your current technology hardware and usage then determine how you can best use current and new technology throughout your organization.
Determine attainable efficiency standards and best practices for your equipment, staff, infrastructure and support.
GOALS AND OBJECTIVES
Create obtainable goals and objectives within your organization to focus on the integration of technology with your business requirements and development.
Determine your level of current effectiveness and create a plan to effectively manage and maintain your hardware, software, and facility resources.
INSTRUCTION AND DEVELOPMENT
Develop education training schedules to increase effectiveness of technology integration within your organization.
BUDGET AND EVALUATION
Itemize your budget and break down technology costs through the years. Use collected data to determine where your strengths and weaknesses are within the organization.
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We provide free quotes, virtual demonstrations, and on-site evaluations
Password management is an important aspect of cybersecurity for any business. If you would like to learn more about password management tools or receive a complimentary Dark Web Scan.