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Lock Up Access to Corporate Accounts with a Password Keeper

How do you remember every password you have for all your personal and professional online accounts? Do you use easy to remember information like birthdays or names of family members and pets? Do you have passwords written down on paper? Do you let your web browser store them? Do you a single password that you use for every account you have?

If you use any of these password storage tactics, you should change right now because these are all insecure methods of retaining passwords. There’s a better way to store and utilize your passwords and that’s with a password keeper.

Password keepers (or password managers) are software applications or services that generate, store, and organize passwords securely.

Using a password keeper guards your employees’ online accounts by keeping all their passwords locked in a digital vault. Each person’s vault contains many passwords, but they only need one key – a master password – to open it. Here’s how it works.

How Do Password Keepers Work?

Once you have your password keeper set up, all you have to do to open one of your online accounts or services is to open the password keeper application and enter your master password. This unlocks the encrypted locations where your passwords are stored. Once authenticated, the password keeper automatically fills in the login credentials for the account you want to use.

Can Password Keepers Be Hacked?

There isn’t any software that is immune to potential threats, but proper use of a password keeper is usually more secure than its alternatives because of its ability to encrypt the data it’s storing.

Encryption is the process of encoding information to make it unreadable without a decryption key that turns the information back into a readable format.

If you use a weak password as the master password for your password keeper, you will undermine the security of the application. Proper utilization includes the use of a strong master password along with cybersecurity best practices like enabling multi-factor authentication and keeping software up to date.

Related: 12 Essential Cybersecurity Measures for All Businesses

Should Your Organization Require Password Keepers?

More and more organizations are requiring employees to use password keepers because they provide a consistent, streamlined approach to identity management that aligns with cybersecurity best practices. Some of the benefits to businesses include:

1. Enhanced Security

Password managers generate and store complex, unique passwords making it easy for employees to comply with requirements for strong passwords.

2. Consistency

Standardizing password management assures that everyone is following the same practice and the possibility for human error is minimized.

3. Phishing Protection

Autofill and auto-login features reduce the chance that employees will manually type in their credentials on a compromised website or fake login page.

4. Improved Access Management

Centralized password management makes it easy for administrators to update or revoke access to accounts when needed.

5. Comply with Regulations

The utilization of password keepers can help meet industry regulations for secure password practices.

6. Multi-device Synchronization

Employees can have access to their accounts on the different devices they use providing consistency and ease of use.

7. Strong Authentication Becomes Common Practice

The use of password keepers guides employees in the adoption of strong authentication practices that might otherwise be neglected.

How Do You Get Started with Password Managers?

It’s not difficult to get your organization started with a password keeper application. Providing people with adequate training and helping them understand the role they individually play in security is probably the most important part of the change management process.

Here are some steps you can expect as your organization adopts the practice of using a password keeper.

  1. Pick a password application.
  2. Download and install the application.
  3. Configure features and security settings.
  4. Create a master password.
  5. Add browser extensions if this option is available.
  6. Import existing passwords.
  7. Generate new strong passwords.
  8. Enable two-factor authentication.
  9. Enable synchronization across devices.
  10. Provide support during the transition process.

Bellwether vCISO Recommends Password Keepers

Our vCISO and security team at Bellwether consider a password keeper to be an essential layer of security needed to protect online accounts from intruders. We help clients through every step of the process, from recommending and installing an application, to employee training and ongoing support. We also ensure that the password manager is configured for maximum security and optimized for each organization’s unique needs.

Do you have a security team helping you choose and implement all the layers in your security strategy? If you don’t, contact us and explore how Bellwether can close security gaps and make security a strong business capability for your organization.

Contact us for a consultation.