Are Single Password Services Safe?

There are a lot of single password services these days. Some of them are free, and some of them offer their services for a monthly rate. But, with how many data breaches there have been in recent years, are these services safe? They certainly do seem convenient. In fact, tech news sites tend to idolize them.

Is there a good reason for this, or is there more to the story? After all, it’s not uncommon for tech services to engage in cross-promotion. As a result, it can be hard to know what to trust with potentially biased sources providing conflicting information. This article will teach you what you need to know about password managers. We will cover the following questions: How do password managers work? Are password managers dangerous? And, of course, should you use a password manager?

How Do Password Services Work?

A password manager is an app that stores your passwords in the broadest terms. You can use them for a variety of services and websites. They create unique passwords for these logins, and if this sounds familiar to you, you might use Google Chrome. Some companies offer their own password management service. These are usually Cloud-based, with passwords being stored online. They work a bit like a locked safe, keeping your passwords a button press away. Good password managers have multiple verification means. This means even if somebody knows how to access your password manager, they need to pass additional steps.

The advantage of the unique passwords generated by password managers is security. Unfortunately, as many as 52% of people share passwords across multiple services, putting your accounts at serious risk. If a hacker gets ahold of one of your passwords, they can access any website that uses that password.

Are Password Managers Safe?

Password managers tend to use very secure encryption to store their passwords. There have been data breaches of password services, however. In most cases, these are not very damaging as the services stored in these passwords require two-factor authentication. For example, hackers breached LastPass in 2015. In this breach, users’ email and password reminders were leaked. However, hackers could not do much as they required an email to verify the login, which they could not access. In most cases, even if your password manager is hacked, the data is completely encrypted. Therefore, this data is unusable by hackers.

The safest option is a Desktop based password manager client. Because the passwords are not stored anywhere online, a hacker would need direct access to your PC to get your passwords. The downside of desktop clients is that they typically can’t be used across devices. The password-sharing process can be complex as well. In the rare event a user has a keylogger; these can be cracked… But biometric authentication prevents this from mattering too much.

Should I Use a Password Manager?

Password managers can often be more secure than setting your own passwords. This is because many of them operate “without knowledge” – IE, the service never knows your master password. This means hackers can never steal it. The caveat is that you should opt for a paid service when you can. Arruda Group can help set you and your business up with secure password managers and teach you the best practices for using them securely. Used properly, password managers can save you time and protect your accounts even in data breaches.

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