The State of the Password Problem in 2021

The Covid-19 pandemic forced many business leaders and organizations to develop new strategies to accomplish daily tasks and achieve future goals efficiently. One of the most prominent factors contributing to the need for change is the transition of most of the workforce moving to a home or hybrid office. However, one thing that didn't change much is password problems.

In fact, with a largely remote workforce, password problems have grown exponentially. The reason for this is twofold.

One: Hundreds of thousands of remote workers are contributing to password insecurity by not using strong passwords on their home office computers.

Two: Hackers and cybercriminals have increased their efforts on this new crop of targets, successfully breaching a system or network utilizing everything from sophisticated malware to basic phishing emails.

Try a free trial with a password manager and improve password security.

Password Insecurity In and Out of The Office

Password insecurity was a significant problem even before the pandemic. As much as business leaders knew that cybersecurity was important, they failed to engage proper cybersecurity protocols or educate employees on the importance of strong passwords. In recent years, according to data breach investigations, over 80% of data breaches occur due to poor passwords.

Password problems have persisted at home; according to a Google survey, 65% of people continue to reuse the same password for multiple online accounts. Many do so simply because they don't want to waste time trying to come up with and remember multiple passwords. Others do it simply because they don't believe they will fall victim to a hacker or cybercriminal. This blatant password insecurity is exactly what cybercriminals are counting on.

Why Password Problems Continue

Many business leaders and employers, working both in the office and/or remotely, feel that spending too much time managing passwords for multiple accounts is a waste of time. In an age where speed and ease of use is a top priority for many, even spending a few extra seconds to log into an account using 2FA can seem like a frustrating inconvenience.

Yet IT professionals providing services to companies of all sizes, in all industries, know firsthand why a strong password for each account is not only essential but also a critical factor in reducing security risks and preventing data breaches. Despite this knowledge, and despite IT professionals' efforts to alert business leaders to the risks associated with password insecurity, weak, easy-to-guess passwords are still in use and mishandled often.

A lack of education about phishing emails or risky downloads from untrusted sources is also a primary factor leading to data breaches, as is email and social media account hacking or signing in to sensitive accounts while on a public Wi-Fi network.

A Solution to Password Problems

While 2FA is undoubtedly a major deterrent to hackers and cybercriminals, many individuals opt not to use it. It still doesn't solve the problem of weak passwords being utilized for multiple accounts. The solution, therefore, is a password manager — a secure way to store and share logins and passwords for both work and personal use.

A good password manager can eliminate the frustration in having to create and remember multiple passwords, as well as save time logging in to different sites. Users will need to remember only one login and password combination, and the password manager will do the rest, ensuring smooth operations and advanced security.

Using a password manager also significantly reduces the amount of password use by team members and remote workers, leaving little chance for mishandling of passwords and keeping data protected from those who are unauthorized to access it.

Companies and organizations that have already understood and responded to the need for stronger cybersecurity action are utilizing TeamPassword, a password manager that offers a variety of plan options to suit the needs of any business. A password generator also enables team leaders to create strong passwords with ease quickly. Additional tools serve to increase productivity, speed up onboarding, and help employees avoid setting up duplicate accounts.

See how easy it is to generate strong passwords. Try a free trial today.

Conclusion

Like 2FA, many other things can be done to decrease the risk of a data breach of the accidental download of malware. But the first line of defence is still a strong password. A company's network should never be put at risk simply because of a few seconds of inconvenience.

Try TeamPassword

Using a secure password manager that supports sharing helps address these problems. TeamPassword's intuitive interface makes it the simplest and most secure way to store and share passwords with your team. Find out today by starting our free 14-day trial.