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5 Myths and Misconceptions About Password Managers

Tony Caccavo, Esq. is a former educator, attorney, and the CEO of TeamPassword, a password management company. He believes cybersecurity tools and information should be made accessible, to better protect individuals, companies, and society at large.

March 17, 20224 min read

Password Management

Cybersecurity is complicated. After only a few minutes of looking into it, you’re inundated with “You need to download this” or “definitely don’t do that.” Everyone, from your colleague two cubicles down to the unsolicited emailer, has opinions about cybersecurity, and many are just trying to sell you something. There’s a lot of information flying around about password managers, but not all of it is true. Today we are going to dispel five common myths and misconceptions! 

Myth: Password managers don’t increase security; they just make it faster to get access to your passwords.

Password managers indeed save you time. Once you’re in the groove of using your password manager, you’ll be shaving off minutes every day that used to be spent logging in and sharing passwords, but a password manager does a lot more than that.

The average team on Team Password has 147 passwords to manage! Without a password manager, teams would need to remember and keep track of all of those by memory or with a lot of organized notes, which is quite the task, so to make it easier, teams end up falling back on the same old 2-3 passwords.

With a password manager, you can easily create long, unique, secure passwords for every tool you use. Every person on your team can access all your strong passwords by logging into one account.  

Also, since you’re not manually putting passwords in, you no longer have to worry about typing in a password in public! You won’t have to worry about who’s looking over your shoulder wherever you are working.

Myth: It isn’t secure to store all of your login information in a single password manager.

Everything you store with TeamPassword is encrypted. Even the people who run TeamPassword can’t see your passwords, so if someone were to hack our information, yours still wouldn’t be visible. 

Because it’s common for team members to need access to many tools, most teams keep all passwords in one location. Otherwise, teams may resort to saving passwords in a spreadsheet, which aggregates all of your credentials in one spot and limits the access inside an organization.

Also, a lost or stolen master password isn’t the end of the world, either! Each team member will only be allowed to use the passwords they require so that no other passwords will be compromised. We will enable you to use your work email to authenticate with Google Sign-In, making it easier to use a super long, complicated password for your TeamPassword while still having the convenience of one-click sign-in.

Misconception: When choosing a password manager, you should look for one that masks passwords. 

Most password managers have the masking password feature. The intention of masking passwords is to share a password without allowing others to see what the password is. It may seem convenient, but it’s pretty useless. 

Although it may keep someone looking over your shoulder to see what your password is, it doesn’t keep users from figuring out the password. All you would need to do is copy and paste into a text file or run a javascript function to crack the code.

Misconception: It’s more added steps to use a password manager.

Although getting set up on a password manager takes time, it’ll save you lots of time in the long run. You won’t need to depend on copying and pasting or remembering passwords because your logins would be stored on your password manager and only one click away from being accessible. 

At TeamPassword, we have an importer where your team can quickly transfer logins to your dashboard, saving time in getting started.

Myth: The password manager in my browser is good enough.

Your browser’s built-in password manager is suitable for singular use but isn’t practical for a team. Companies that need to share passwords won’t find them helpful because you cannot share logins with your built-in password manager. 

Luckily for you, TeamPassword can amp up your company’s password security and efficiency. Sign up for a free 14-day trial here.

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