Best practices for passwords manager admin password#
This solidifies the need for streamlined password management. Infiltrators have already begun seeing employees working from home as soft targets and are tricking them into revealing company passwords- from entry-level associates to senior executives. With most enterprises having shifted to a remote work environment in 2021, the lack of a robust company-wide password management policy is an invitation for cybercriminals to wreak havoc and steal valuable information. The damage caused by cybercrime is estimated to hit $6 trillion annually in 2021.Įnterprise password security is always slightly more complicated than personal password security for many reasons, such as the presence of thousands of terabytes of sensitive information, the need for multiple people to access the same account, and regulatory oversight, to name a few. This provides cybercriminals many opportunities to target. That means many passwords are floating out there, and the global population is collectively managing anywhere between ten billion and a hundred billion passwords. Storing passwords, whether physically or digitally, where family members or friends can access them, is another security risk but a commonplace practice, especially among employees with low technical hygiene.įinally, increasingly sophisticated phishing tactics that target work-from-home employees have emerged, forcing companies to modernize the management of employee systems and passwords.Īlso Read: 10 Best Password Managers for 2021 Importance of Password Management for Enterprise SecurityĪccording to the International Telecommunications Union, over half the world has access to the internet today. Traditional password management methods are no longer feasible, especially in 2021, when remote work has become the norm and losing a password could mean being completely locked out of the office infrastructure.
It helps you choose adequately complicated passwords, ensures timely password rotation, and enforces several cybersecurity best practices. A password manager does more than simply remember your passwords. With a password manager, users can manage all their passwords-personal and professional-from one centralized location. Password management is the one-stop solution for this modern problem. According to a 2020 research study by NordPass, the average person has a hundred passwords to remember. An average user has different passwords for their email, online shopping, internet banking, social media channels, and several other digital services. Things get even more difficult on the personal front. However, even the most powerful executive is only human, and it’s only a matter of time before remembering numerous passwords for various corporate portals becomes impossible. Today’s digitalized corporate space relies heavily on passwords for every service, whether it’s something as simple as marking daily attendance or as sensitive as accessing clients’ unmasked financial details.
Password management is a system that facilitates a simple, secure way to store passwords and access them quickly when required. Top 10 Best Practices for Password Management in 2021.Importance of Password Management for Enterprise Security.This article explains the basics of password management and shares some best practices. While convenience is the primary allure of password management for personal users or small enterprises, large corporations prefer these solutions for a different reason-protecting sensitive information from unscrupulous elements in an environment where traditional password management methods would be too difficult to enforce. Password management solutions ensure robust cybersecurity as well as convenience for home and enterprise users alike. Today, password management is a critical part of the IT policy of most organizations.
Password management is defined as a system that facilitates a simple, secure way to store passwords and access them quickly when required.
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