The ever-growing need for complex passwords for various services such as subscriptions, business accounts, and banking has brought to light the use of password managers. These programs store all of your complex passwords in a secure database, accessible by a single master password that you have control over.
With the rise of large data breaches within major companies across the globe, password managers have grown in popularity. Some of the major players, such as 1Password, Keeper and Dashlane, offer affordable yearly subscriptions to keep track of your passwords and also suggest passwords for sites using browser extensions.
Some key benefits of using these platforms are:
According to a survey taken online by PC Mag, most users use one simplistic password (usually one that means something to them so that it's easier to remember) for every site they need to log into. This is the single key that hackers need to gain access to, stealing anything they want about your identity.
Here's a common example of how hackers can access your important accounts.
You get an email from your bank stating that there is a suspicious charge on your account. In the body of the email, they provide you a link to log in with your credentials to view or dispute the charge. You think this looks legit and say, "Maybe I should check it out." You try to log in, but your username and password don't work. You think, maybe I typed it in the wrong…you pay more attention this time, and this time, it directs you to a blank internet page. After the initial panic and dread, your next step is to call the bank, where you'll find out that they never sent you an email and there was no charge on your account.
You just fell for a phishing attempt that a password manager could have warned you about, and now the hacker has your password, which you use all over the internet. It's as easy as that and happens every day.
The best way to find a password manager that works for your specific needs is to test them out; typically, they offer seven-day or 30-day free trials. Follow the directions on setting up a good master password, and don't forget two-factor authentication! Some may ask you to save a security key in case you forget your master password, and they will ask for a unique key to reset the password (store this in a safe place outside of your password vault within your account).
Once you start creating and saving your passwords in your password manager, you'll wonder how you ever lived without one!
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