Do you Need a Password Manager?

Passwords. We all have them, and some of us have a lot of them. They open our email, bank accounts, social media and more.

Juggling a bunch of passwords is a pain, but it’s also difficult to do. A good password manager will help you keep your accounts safe and make your lives easier.

What does a password manager do?

It may seem like a memo from the Department of Redundancy Department, but a password manager manages passwords (Duh…). Really, it’s a handy tool that keeps all your passwords in one place and remembers them for you, making logins a breeze. Think of it as a digital safe for your login information.

The only password you will need to remember id the one for the password manager - the master password, which lets you access all your other passwords to change or edit them.

What are the different types of password manager?

The three most common types are desktop, cloud-based, and single sign-on (SSO), and there are two main locations where they are used.

1) As an app you download on your phone or computer

2) As a tool that works in your web browser

Some password managers offer both options. If you access web sites that require logins, the password manager on your phone or computer should offer to remember them for you

As an added bonus, password managers strongly encrypt your information. When you save a password, the manager scrambles it. This makes the password unreadable to anyone who tries to steal it.

Is it necessary to have a password manager?

While not a strict ‘necessity,’ once you use one, you will not want to go without it. Plus, with more complex passwords, it’s a boost to your cybersecurity. Here’s why you should use them:

Helps You Create Strong Passwords

The reason why most people create weak passwords is because they can remember them. The most common password in the world is ‘123456’ – and it is the easiest to crack – and the biggest headache for your IT support. But you don’t have to bend over backwards think up complex passwords – the manager can generate them for you, and they will be long, random passwords that are very hard to crack.

Also, if you have the manager create them, it will take out all personal details that hackers will try in guessing them. For example, if your social media (which hackers mine for information) is chock-full of photos of your cat, ‘Whiskers,’ hackers are going to use that name to break in.

No more trying to remember all those Passwords

The more complex a password, the harder it is to remember. A password manager does this for you. You can use a unique, strong password for each account without forgetting them.

Safeguards Your Passwords

Your data will be protected with a high-level of cybersecurity by encrypting your passwords. Even if someone hacks the password manager company, they can’t read your information.

What features should a password manager have?

Most password managers boast a number of desirable features, but here are the most commonly used:

Strong Password Generation

Good password managers can create tough, unique passwords for you. They mix letters, numbers, and symbols to make passwords hard to guess.

Auto-Fill

At this point, it’s irritating when forms don’t auto-fill in things for you, but many password managers can fill in your login information on websites. This saves time and avoids typos.

Keeps your notes secure

Some password managers let you store other sensitive information as well. This can include general notes, credit card numbers, or important documents.

Secure Password Sharing

Many of us share passwords with family or coworkers, and a password manager lets you do this safely, which helps with joint accounts or team projects.

Password Boss fills out their own Top 10 features HERE.

How to choose the right password manager?

Here are a few key things to look for when picking a password manager:

Ease of use

This falls under the KISS principle (Keep It Simple, Stupid). The basic concept of a password manager is to make things easier for you – because that will make you want to use it. Find one that’s easy for you to understand and use.

Good cybersecurity

Find one with strong encryption and two-factor authentication (2FA). These features keep your information extra secure.

Device Compatibility

Before you adopt one, make sure the password manager works on all your devices, including your phone, tablet, and computer.

As always, price

You can get some password managers for free, while others cost money. Just remember that “You get what you pay for.” Free ones are usually ‘bare bones,’ whereas paid ones generally offer more features. Research what you want and what you can afford.

How to use a password manager safely

Create a strong master password

Use 2FA (Two-Factor Authentication)

DO NOT share your master password - EVER

Update your password manager regularly

Be careful when using password managers on other people’s computers

Always log out when you’re done

What happens if you forget Your master password?

This is like being up a famous creek without a paddle – it’s a big problem. Most password managers don’t store your master password anywhere for security reasons. Some managers offer account recovery options like security questions or a recovery key. Know what to do if you forget your master password. Your best practice is physically stashing that password in several secure locations (NOT on a post-note stuck to the front of your monitor).

If you have good IT support, whether an in-house IT services department or an outsourced Managed Services Provider (MSP), they will have a much better chance of recovering that master password.

Is a password manager better than Browser Password Saving?

It’s a matter of cybersecurity, and password managers win. While your browser may offer to save your passwords, this is less secure than a dedicated password manager. Here’s why:

1. Browsers don’t always encrypt saved passwords as strongly
2. They don’t offer as many features
3. They don’t work across all your devices and browsers
4. They’re more vulnerable if someone gets your computer

Can you trust free password managers?

It depends on the complexity of your operation and the sensitivity level of your data. Free password managers can be a good start. They offer basic features to improve your online security. Paid versions often have more features:

Sync across more devices

More storage for passwords and other data

Extra features like secure file storage

Better customer support

For most users, especially a consumer, a free password manager works well. If you need more features or have lots of passwords, you might want a paid version. Ask your IT Support team or Managed Services Provider for a recommendation.

Built-in Phone Password Managers

Most smartphones have some version of a built-in password manager. This might be good enough for some users. It’s convenient and works well with your phone. But there are some limits:

They might not work well on different types of devices

They have fewer features than standalone password managers

They might not be as secure as specialized tools

Built-in tools can work for basic password management. For more advanced needs, a standalone password manager is better.

Are password managers really secure?

While password managers significantly enhance security by storing and managing strong, unique passwords, they are not foolproof and can still be vulnerable to data breaches, especially if the manager itself or user practices are compromised. Good password managers offer features to help with data breaches:

Warnings if a site you use is compromised

Tools to check if your passwords have leaked online

Easy ways to change many passwords quickly

These features help you act fast if your data is in danger.

Do password managers work offline?

Yes, but if that is a dealbreaker for you, look into this before you choose. Many password managers can work offline. They keep an encrypted copy of your passwords on your device. This lets you view them without an internet connection. However, some features might not work offline. For example, you can’t sync new passwords across devices until you go online.

How frequently should you change passwords?

While it used to be every three months, many experts say that strong and unique passwords are enough. You only need to change them when necessary.

Password managers make this easier. They help you create strong passwords and keep track of when you last changed them.

The future of password managers

Password managers keep evolving and improving. Some new trends include:

Login options without passwords

Enhanced integration with other security tools

More use of fingerprints or facial recognition

Advanced password sharing without showing the actual passwords

As online threats change, password managers will keep evolving to keep us safe.