Imagine a website being hacked, and all the credentials and sensitive information you’ve shared gets accessed by the outside world with incorrect intentions. It is a hard task for one to remember each single password for every account. In order to avoid confusion you often might get into the practice of using the same passwords across multiple accounts. What these hackers then would do is try your leaked credentials they have managed to hack from one website and try these on other websites. The reuse of passwords increases the vulnerability of cyber-attacks thereby magnifying your chances of getting exposed.
The major role played by password managers in saving your information and data
A password manager can step in here and be a saviour. It eliminates the hassles of remembering multiple passwords for all your different applications or accounts. And all it needs you to remember is just a single master password that links all your required applications. Enterprise password manager software from a reputed provider will come with the additional benefit of ensuring that you enter strong passwords, which are unique and are changed after a specific period of time systematically. This makes it hard for someone to guess the unique password.
Reasons to use a dedicated password manager
Easy and simple to set up
It is a common misconception that to deploy a password manager requires a lot of effort; however, it is fairly easy and simple. It avoids the use of a spreadsheet to store user names and passwords; rather it grabs your credentials the first time it records you entering this information in a website. From there it retrieves the password and stores it in a centralized vault. Once you update or change your password, it automatically updates the credentials in the vault so that all you need to remember is a master password for the vault.
Ensures strong and unique passwords
Password managers add additional layers of security. These also enforce one to adhere to the regulatory compliances of an organization by compelling you to enter passwords that meet certain requirements, such as these should be of a certain length or contain special characters and so on. Often it is very difficult and an impossible task for hackers to guess your password that combines a unique combination of upper and lower case or numbers and alphabets and special characters. Even in a worst case scenario, if there is a data security breach, the information that goes out is a single password for one of the accounts and not the whole array of passwords stored in the vault. This is a great advantage of having password managers.
Making passwords mobile by syncing
A rigorous synchronization process is a characteristic of most password manager software that we find in the industry. These allow easy synchronization of accounts from multiple systems while some of the software also allows access through a smart phone application as well. This pulls off the restraint of having to sit in front of a machine always to access all your information and helps you access all of these on the go. These services make life easier and at the same time secure by helping you access important documents, such as electricity consumption bill or banking accounts, without much hassle.
Though a password manager stores all your sensitive information in a central repository, it is secured as it stores these in encrypted mode keeping in mind the safety of your information.