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The Importance of Password Security in a Startup

As a startup, one of the things you will want to be careful about is cyber security. While creating secure passwords is often overlooked as an inconvenience, they are your first line of defense against unauthorized access to your business’s accounts and systems.

However, using a simple or the same password for all your business accounts increases the chances of getting hacked. This may result in loss of money and expose your personal or customer’s sensitive information to criminals.

How Do Hackers Crack Your Password?

While there could be many ways hackers could use to access your systems, the most commonly used method is guessing your passwords. Hackers use what’s referred to as a “dictionary.” In matters, cyber security, a “dictionary” is a database of the most commonly used passwords that hackers run using software to guess your password.

Suppose your password is a combination of your name, pet, name, relative’s name, and some numbers. In that case, the chances are that the software will easily guess that password, putting you and your customers at risk of having your personal information compromised.

Besides the dictionary attack, other techniques used by hackers to crack passwords include phishing, using malware, social engineering, and shoulder surfing. The good news is that there are many ways to increase the security of your passwords.

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How a Password Manager Can Help

(Un)surprisingly, one of the most commonly used passwords is “password,” followed by a combination of numbers such as 1234. With many accounts to manage, it is understandable why one would go for such a simple password, however, password neglect can leave you exposed.

That is why it is always a good idea to use unique passwords that have a combination of upper- and lower-case letters, numbers, and symbols.

However, remembering complex passwords can be a challenge for most people, especially if they are using more than one. That is where a password manager comes in. A good business password manager tool should be secure and easy for employees to use.

If you are not sure what solution to use, Keeper’s Secure Business Password Manager is one of the safest password managers in the world. This password manager helps you create and save strong passwords while upholding the highest security standards.

Best Password Practices

While having a strong password is a good idea, failing to follow password best practices will make even the most complex passwords susceptible to hacking. Some of the best password practices include:

Not Reusing One Password for All Your Accounts.

One of the most common password mistakes many people make is using the same password for all their accounts.

The problem with this approach is that if by any chance an unauthorized person has access to your password, it means all your accounts and websites are compromised.

Using different passwords for different accounts ensures that a criminal will not access other accounts even where one account may be compromised, thus minimizing the damages caused.

Two-Factor Authentication

The security needs for different accounts may vary depending on the sensitivity of the information they contain. For accounts holding the most sensitive information, you may want to use two-factor authentication.

This means the user will be required to enter a specific code or allow access from another personal device besides entering their password.

Automatic Lockout System

This account security option works by ensuring that attempted access is blocked after a set number of failed login attempts. Hackers usually run thousands of attempts using special software to access your accounts.

With an automatic lockout system, it is possible to lock them out after several attempts, making it difficult for them to have access to your accounts or system.

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