A password manager is a software program that lets users generate, store, and oversee their personal passwords. It conveniently allows them to create and reaccess complex passwords easily and safely. Also, it acts as a digital vault that is hacker-proofed and encrypted.
Just about a decade and a half ago users didn’t have much trouble creating and keeping passwords as it wasn’t much of a security concern. The idea was, for as long as they made passwords that were long and difficult to guess there was nothing to worry about.
Rightfully so.
However, fast forward to the year 2017, people were suddenly faced with the dilemma of having to contend with more than 150 unique passwords to maintain and manage on average. If you were some kind of savant, you’d remember every single one of them in your head.
Unfortunately, it isn’t the case for the rest of us “normal” human beings.
So what do we do? We tend to create passwords that are not only weak but sometimes we even reuse them. In a report by Verizon Data Breach Investigations, 80% of incidents in data breach stem from weak and reused passwords. Obviously, a real security threat.
How Does It Work?
Aside from its main function of generating and storing passwords, a password manager can also monitor and manage really long and complex passwords. It can also keep and protect credit card numbers along with its 3-digit security codes at the back. It can even store Personal Identification Numbers and some answers to your security questions.
All these critical data are kept under digital lock and key with advanced encryption. That feature makes it almost invulnerable to brute force attacks. With all these security features in place, you can then use one master password to unlock your vault and be able to automatically gain access to all your accounts.
Of course, in order for the system to properly work the user must observe safe password practices like using lock screens on their devices. They should also be wary about using public computers that could potentially open them to outside attacks. In addition to that, you might also want to use 2-factor authentication for added security as it is necessary for high-value accounts.
What Are the Benefits of Using a Password Manager?
- You no longer need to memorize your passwords.
With a password manager, you can create the most complex and unique keys without having to worry about remembering them all. All you need is one master password to remember.
- Your password manager can alert you.
Your system will alert you in case you inadvertently stumble upon a site that has a history of security risk. Ex. Virus. phishing, hacking.
- Let your manager create passwords for you.
You can also ask the password manager to auto-generate passwords for you that you can retrieve anytime.
- Auto-sync to most operating systems
You can hop from one device to another without any problem since many password managers are designed to work with Mac, Windows, iOS, and Android. The same goes for most browsers.
- Convenient time-saver
The auto-fill feature allows the user to save time and effort whenever they shop online. Some password managers can automatically and securely fill-in your address, phone number, email, and even your credit card information. This can be done provided that the manager recognizes the website.
Types of Password Managers
- Locally Installed Password Manager
Your manager can be an app that may be downloaded from the web and locally activated on your desktop, laptop, or mobile device. There is a certain sense of stability when the user knows that his passwords are not in any other place but at home or in the office where he can easily access his or her machine. The downside to this is, if the machine gets stolen or lost the vault gets lost too. If this option is a must for you it would be wise to keep a backup. Also, if you’re traveling or working from multiple locations, this may prove to be a less-than-perfect solution without real-time sync across all of your devices.
On the other hand, on-premise or locally installed password managers are still used in heavily regulated industries like banking. It actually provides added security where real physical guards protect the data inside of the property or building.
- Cloud-Based Password Manager
With recent advancements in cloud-based applications they are increasingly popular across many industries. A case in point is the security industry. It has already accepted the challenge of making the cloud a useful platform in establishing a good reputation in terms of keeping its user’s data safe.
Aside from easy access from anywhere in the world, the cloud-based password manager also boasts of flexible hosting where it can be attached as a browser extension, mobile app, and or desktop app. With this type of solution losing a device won’t be much of a problem since you can always access your account from an alternate machine.
What are the Key Features of a First-Rate Dedicated Password Manager?
Simple and robust, we at PassCamp provide our clients with unparalleled security combined with ease of use.
- Great Accessibility
Agile, available, and secure. Access your passwords, anytime, anyplace, anywhere with peace of mind.
- Well-Organized with Monitoring Capabilities
Use Tags, Mass Actions, and History Logs to easily organize, store, and monitor changes in your password data.
- Generate/Auto-generate Reliable Passwords
One-click password generation. Complex and secure, you are assured of protection while not having to worry about remembering them.
- Auto-save and Auto-fill
Two click convenience for qualified accounts.
- Secure
Added security features are end-to-end encryption, two-factor authentication, and zero-knowledge proof.
- Safe Password Sharing
The system allows user roles and assigns permissions according to appropriate levels as specified by you our valued client.
Wrapping Up
Not like in the past, password managers are now a definite necessity and are no longer just an option. Whatever your choice of a reliable password manager is, it must always be up to your exact specifications. Choose a vault that will meet your unique needs, whether it be for business or personal use.
