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Enterprise Password Management – What Cybercriminals Don’t Want You to Know

Posted by on January 13th, 2020 in Cybersecurity, Identity Management, Password Management

The number of passwords the average person must remember is mind-boggling. In 2017, the average ‘home user’ had nearly 20 passwords to keep track of for online accounts. In 2020,  internet users will rack up a staggering 207 accounts requiring passwords

Creatures of habit and inherently lazy, people tend to reuse the same password for multiple accounts. Making this bad practice even worse, we tend to create relatively simple passwords that we can actually remember. Let’s face it, ‘FidoDog2001’ is easier to catalog in our brain than “s&Tb4rj#jQpLf29Y!nr7d.” 

Passwords – opening the door for cybercriminals

Cybercriminals bank on the fact that we will stick with our bad habits and make their jobs easier. For businesses, the challenge is compounded by the fact that employees will bring their bad habits to work, often using the same simple, easy-to-remember password for business applications that they use for their personal Facebook account. Suffice to say, businesses that fail to enforce a strict company password management policy are leaving the front door wide open for cybercriminals to walk right in and get their hands on confidential and valuable assets. 

And believe me, they are counting on it! Consider this:

  • 63% of network intrusions are the result of compromised user passwords and usernames. (Microsoft)
  • 73% of users reuse passwords across their online accounts (RSA Data Privacy & Security Survey 2019)
  • 76% of consumers acknowledge the importance of keeping their account information secure; 53% of people now use password managers. (The Blinding Effect of Security Hubris on Data Privacy by Malwarebytes)

Password managers to the rescue

As your business deploys more devices, applications, networks, and users, the complexity of managing and protecting user access increases exponentially. Password Management solutions help IT departments ensure the proper controls are in place to protect the company from cybercriminals and employee’s poor password management practices. These password managers help reduce friction for employees while giving IT departments a simple, effective way to protect access points across the organization.

With several enterprise solutions out there, it can be a challenge to determine which service has the features and functions that you need for your organization. Lucky for you – LanYap Networks can help you navigate the options and find the perfect fit for your business. Just give us a call!

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