Are You Keeping Track of Passwords? How to Create and Manage Login Credentials

As a business, keeping track of passwords is a critical task you can’t overlook. Learn ways to safely create and manage your login credentials.

In this day and age, cyberattacks are one of the hottest business topics floating around.

Some people choose to sit idle, hoping that worst-case scenarios will pass them by. Others know better and take active measures to safeguard their privacy and data integrity.

Passwords are the weapon of choice in a battle for cybersecurity. Passwords grant us easy access to the resources we need and help keep us safe from malicious activities.

Alas, passwords can present challenges to our defense strategy. If not created wisely or adequately, for example (we’re looking at you “12345”, “qwerty,” and “password”), you all but leave yourself open to cyber threats. Another issue is that you should have unique passwords for each channel, tool or platform used, so it’s much too easy to lose sight of different passwords.

The good news is that keeping track of passwords doesn’t have to be a tedious process. You simply have to research, plan, and implement.

So, here is how to make your life much easier, and your business far safer.

Passwords as the Mainstay of Security

Modern businesses employ a whole host of different software services and online platforms to fuel operations.

This rapid adoption is a double-edged sword, bringing both challenges and opportunities. Password leaks, phishing, and brute force attacks are rampant, and represent just some of the risks affecting sensitive business data and online assets such as websites and social media channels.

Lackluster measures and policies just don’t cut it; dealing with these imminent dangers requires sophisticated, higher-level solutions.

First, it’s vital to generate strong passwords. Random strings of letters, numbers, and symbols are much harder to crack than overly-simple, easy-to-guess common terms and phrases.

Then, we need to create and use unique and different passwords for each online application or account, rather than using one password universally.
These measures go miles toward preventing unauthorized access to accounts, devices, and networks.

But, the issue remains that one employee often has to track and manage dozens of accounts. Memorizing all these login credentials would indeed be a hassle, and perpetually resetting them is time-sapping at best.

However, here’s the good news: you don’t have to keep passwords in your head. Instead, you can rely on best password management practices and tools.

A Systematic Approach to Storing Passwords

Having a well-thought-out system for managing passwords is a way to go.

We cannot stress enough how important this is for small- and medium-sized organizations. These companies often lack dedicated IT teams and departments, yet they must assume full control over the data they process.

The first step toward safety is designating a safe place for login credentials. A piece of paper or post-it note is no good, and the same goes for unencrypted text files saved to your computer. Both of these practices lead to external and internal security loopholes, putting your reputation, consumer trust, and fiscal bottom line at risk.

Here’s how to step up your password-management game:

The initial focus should be on establishing clear responsibilities and duties. Designate a person in charge of storing and maintaining passwords, and communicate your policies and practices across the board.

And, please! Do not expect that it is the responsibility of your web designer or social media consultant to maintain and store your passwords for you or on your behalf!

Next, you should look for a quality password manager – an essential layer of security for businesses of all shapes and sizes. It requires employees to memorize only one password – the master password for opening the tool.

A List of Essential Features to Prioritize

There’s no shortage of remarkable password management tools, and you can think of them as digital vaults for depositing all of your password data. Some products are free, open-source programs anyone can use, while others are enterprise-level platforms stacked with features and functions.

Considering the wealth of options and solutions, it’s important that you practice due diligence. Begin by assessing your unique business needs, factoring in a budget, and take into account industry requirements and compliance standards. Once those details are sorted out, put together a list of must-have features.
While there are no hard rules, you do need to keep an eye on the following things:

• Password generation
• Password entry
• Automated login
• Secure notes
• Emergency access
• Digital wallet
• System and device compatibility
• End-to-end encryption
• Type of storage

The list goes on and encompasses some less-vital features that are nice-to-haves, but not necessarily elements you need right away.

Exploring Different Password Managers

In this section, we’ll cover the main selling points in a bit more detail.

First, when it comes to storage options, the choices are local versus cloud storage.

Cloud solutions offer seamless integration, which is important for those who want to integrate password managers with the rest of their tech stack. Another advantage is cloud automatically syncs passwords across devices and machines.

The downside to cloud-based solutions, however, is that you run into a higher risk of password leaks. Advanced data encryption does much to plug this gaping hole, but not completely. If this is a concern, you may want to opt for a local password management application.

Furthermore, bear in mind that you want a tool that is user-friendly for your team. An intuitive interface with a minimal learning curve ensures all employees will actually use the application.

Finally, don’t overlook additional security measures. Business-grade managers, for instance, have two-factor authentication and audit reports, which make your security arsenal even more robust.

Before we conclude, just two more recommendations:  Try not to skimp too much, and take your time cherry-picking the tool. You’ll gain much-needed peace of mind and the ability to repel most security threats coming your way.

RECAP: Keeping Track of Passwords Made Easy

In today’s digital age, keeping track of passwords is paramount.

These strings of symbols are the backbone of effective, multi-layered security strategies. They protect our privacy and keep cyber threats at bay.

However, you shouldn’t manage them manually and haphazardly. There are too many moving parts, and the risk of failure is high. What you need to do is make the most of available digital management tools.

To get started, develop sound management practices and policies. No amount of cutting-edge software can replace these foundations. The next ingredient is the password manager that suits your specific needs.

The key to making an educated choice is to weigh the pros and cons of different options. This spadework spares you many headaches and wards off potentially disastrous consequences.