Password Safes

We’ve discussed password safes in previous articles. Here we will delve a bit deeper to help you understand how they can be used and whether or not they are right for you.

We’ve discussed password safes in previous articles.  Here we will delve a bit deeper to help you understand how they can be used and whether or not they are right for you.

What is a password safe?

It is an application that stores user credentials for all your online accounts.  This could include things like banking, email, Facebook, LinkedIn, and all the various applications and login you have attached to your personal addresses.  Most people don’t realise how many different logins and online accounts they have.

Why use one?

One of the biggest issues with online security is that people tend to re-use the same password over and over again for numerous accounts largely because it’s easier to remember.  Remembering a different password for each account is difficult given the number of accounts people have.  A password safe enables you to reset the passwords to be unique and complex and it does the work of remembering them all for you.  Additionally, with the browser add-ins, you can connect, the password safe will also populate the username and password when you go to the login page.  Most password safe applications also have a mobile app so you can utilise them across multiple devices.

What’s the catch?

Each password safe has a master password to the vault.  This one you need to remember, the safe can’t store it for you and because that one password is protecting all your other login details it needs to be as complex as you can make it.  If you forget it, it can be difficult to reset.  If you need to store it somewhere it should on paper (not in an electronic format where it could potentially be hacked) and kept in a secure location (not stuck to your monitor).  A hacker cannot access your bedside table or filing cabinet in your office, but they may be able to get to your email account or mobile device – so don’t store it electronically.

An internet cyber criminal

Should You Use One?

Some people feel the single password for the vault is too big of a risk to have and therefore don’t recommend password safes.  As multi-factor authentication becomes more commonplace – where you use another login method (e.g. SMS code, facial recognition, fingerprint recognition) along with your password to log in – I can see a point in the future where passwords are no longer used and password safes will become obsolete.  Until then, I believe the advantage of being able to have complex, different passwords set up on each individual account making it harder for someone to be hacked outweighs the risks of the master password being hacked, assuming the account is set up correctly.

What Does it Cost?

Most platforms have a free option and LastPass as an example has two additional paid plan options.  The most expensive at the time of writing is $US5.62/month so the cost to maintain a password safe is minimal.

Does it work across Andriod, iOS, and Windows?

Yes.  All the most popular platforms work across multiple devices (Windows, Android, iOS) and browsers (Edge, Chrome, Firefox).

What Are The Most Popular Password Safes?

  1. Dashlane
  2. LastPass
  3. Keeper
  4. LogMeOnce
  5. Roboform
  6. NordPass
  7. mSecure
  8. Zoho Vault
  9. 1Password
  10. Bitwarden

Reference – https://www.techradar.com/au/best/password-manager

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I specialise in driving digital transformation in organisations. My success is based on a philosophy that is business-led, where I align best-practice in technology with business strategy and customer requirements in a way that is efficient and cost-effective. I enjoy wearing multiple hats leading a ... more

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