Nowadays, almost every other online account, or even, electronic gadgets that a person owns are protected with a password. However, considering how it is advised to keep your password to each account different, remembering all of the passwords to different accounts can become quite difficult.

This is when password manager applications come in. However, many question whether or not are password managers safe? Well, that’s exactly what we are going to be talking about today.

Read down below to find out more about what password managers and how they work.

What are password manager applications and how do they work?

Simply put, password manager applications are like a secret diary; where people can write down anything and lock the content from outside. So, how  do password managers work?

Password managers store your login information for all of the websites that you use, and can help you log into these websites or accounts automatically. The password database is encrypted with a master password – so, its basically the master password that you really need to remember.

Why do we need password managers?

While the risk of stealing the master password to get access to the content inside stays true, the fact that remembering one lengthy password to protect your “vault” might be enough security you need.

This is because password stealing is common nowadays, and phishing attacks can effectively take over your data, including your passwords.

Although the hashing procedures can secure your password entries through encryption, not all websites use strong algorithms for this process. Shockingly, some do not use such algorithms at all. One way to avoid identity theft is by using long passwords.

Kirk Hausman writes in his book Sustainable Enterprise Architecture,

“If only alphabetic characters are used, then a single-digit password would require only 27 tests to check all possibilities…. A four-character non-null alphabetic password would require over 45,000 tests, while an eight-character password would require almost 410 billion tests.”

He also adds that by raising the complexity can also increase these number of tests. Adding special characters and uppercase-lowercase combinations can raise the number of tests by four times per character.

Are password managers really safe and effective?

Unfortunately, the longer and more complex the password, the more prone we are to forgetting it, especially if such passwords are required for other online platforms as well.

Password managers can not only collect passwords from online banking channels, social media, emails and utilities but also make strong ones. Credential stuffing is when a user uses a strong password for all of their online platforms, a terrible mistake. Hackers already know this approach and use it instantly after gaining access.

However, by using good password managers people can reduce security risks they create when setting up weak, short, or similar passwords for their online channels.

Some of the good applications even require two-factor authentication and expire account sessions regularly. This makes sure that you have to enter your master password regularly to ensure that the right user is controlling the application.

As for the safety of password managers: YES! They are completely safe to use.

You might also want to check out: 3 REASONS WHY TECHNICAL SUPPORT SERVICES ARE CRUCIAL FOR YOUR BUSINESS?

What password manager applications should I use?

Perhaps the simplest answer to this is: it is entirely up to you. All password managers perform largely the same duties, differing in additional features.

However, the features might be relevant for some and not for others. Therefore, it is for users to decide what is best for them. Apple users might have a similar experience to this idea due to their iCloud account.

However, businesses can effectively utilize this opportunity for themselves as well. Not only this, but they can also invest in an enterprise-specific application, personalized only for them and their organizational structure.

In the midst of all this, what really matters is the company who designs these applications and its proficiency towards what is needed: top-notch security & encryption.

What are the pros and cons of password manager applications?

Let’s have a look at some of the pros and cons of password managers:

Pros of password managers

  • Password managers allow users to create, record and reuse passwords for  different websites
  • Password managers can allow users to log into saved websites automatically
  • Many password managers also provide the option to store extra information such as membership cards, membership cards, notes etc.
  • Users don’t need to remember multiple passwords for different websites and app accounts.
  • You can provide access to the credentials of critical financial accounts to trusted family members
  • It is possible to generate more robust passwords

Cons of password managers

  • It might not support all your devices and browsers
  • If you forget your master password, you might lose access to all your other accounts if you don’t remember their passwords
  • Majority of password managers require buy-in and setup

Conclusion

Considering the pros and cons of using password managers, the only major con is forgetting the master password to your password manager application. So, that’s something that you might need to remember by heart.

Other than that, password managers are undoubtedly safe, effective and very useful when it comes to remembering passwords and keeping them all in one place.

Worried about cybersecurity issues? Get in touch with InvoZone today. The Canadian software development company will guide you on how to to protect your accounts and websites against cyberattacks. We also develop custom software to meet your specific needs.

 

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