Benefits of Password Manager for Business and Personal Needs

What Are the Benefits of Using a Password Manager for Your Business and Personal Accounts?

What do you think? How many passwords does an average person have? Too many, perhaps? Yes, you would be correct.

According to a recent study commissioned by NordPass, the average online user juggles between 100 different passwords. Unfortunately, our passwords tend to be weak, simplistic, and easy to hack because we have so many accounts. Just consider this, the top 3 most popular passwords are:

  • 123456
  • 123456789
  • Qwerty

That’s why we have more than a million stolen passwords every week. What’s worse, cybercriminals can target both your personal and business accounts to get a hold of sensitive information.

To combat this, you need stronger passwords.

It would help if you also had a different password for every account. Lastly, you need a tool that remembers all the passwords. That’s why in this article you will learn more about the benefits of using a password manager and if it’s worth having one. Before we go any further, let’s answer the most important question first…

Are Password Managers Worth It?

Yes, password managers are worth it when weighing all the pros and cons. Here’s why… Using a password manager simplifies cyber security, prevents credit card information stealing, and gives you access to multiple logins from a single account. In addition, password managers offer plans suitable for any sized business or personal use. Password security remains one of the most important areas of cyber security for several reasons. In theory, most users understand the importance of having secure passwords. But when you look at the statistics, they paint a much different picture.

Most of us, it turns out, have really bad password habits:

  • Nearly 55% of users have one password for multiple accounts
  • More than 50% of workers share logins with their colleagues
  • More than 40% of organizations rely on sticky notes to save passwords

No matter how secure your network is, if you keep and share passwords in an unsecured manner, reuse passwords, and create easy-to-gu guess passwords, there is a high possibility of a data breach. Secure password vaults with two-factor authentication keep your credentials safe and secure. As a result, you can keep your business safe from cyber theft with a low monthly fee.

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