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Just How Secure is a Password Manager - MYKI

Just How Secure is a Password Manager?

We’re expected to remember a staggering number of passwords every day – whether that be for our work, our personal accounts or even our entertainment services.

Not only do we need to make passwords more secure, we need to ensure they’re easier to manage.

MYKI_Password_Manager_Infographic_Mirus LogoWhen it comes to our online security, one of our worst habits is sadly one of our most prevalent: reusing passwords across multiple services. Yet with the wealth of logins we’re expected to remember – our devices, our emails, our VPNs, our software subscriptions – it’s easy to see why so many of us choose manageability over security. But with a reputable password manager, it’s entirely possible to have both.

Owing to our rising dependence on online accounts and passwords, Mirus have recently adopted MYKI password manager as part of our Managed Service offerings. Designed for both Managed Service Providers and their clients, MYKI stores passwords not in the cloud, but on the user’s device, making it even harder for hackers to access their sensitive data. By setting users up with fingerprint, Face ID, or pin code security, their passwords are protected with credentials only they can provide.

As many businesses already understand, a password manager consolidates the login information for all online services into a single solution, requiring only one password. From there, the password manager takes care of the rest – entering login credentials automatically so users needn’t commit them to memory again.

                                                                           

Of course, this raises a pertinent question; is it truly wise to store all your credentials behind a single password? Haven’t security experts spent years condemning that very practice? Indeed they have, but despite this, password managers remain the most effective protective measure, simply by enforcing so many other best practices.

For example, when signing up to any new services, your manager can create a unique password that’s near impossible to guess or so you can logon effortlessly. It’s also advisable to set yours up with the added protective layer of Two-Factor Authentication; that way, your passwords are protected even in the instance that your manager’s data is compromised – though this is a rare occurrence.

Yet it isn’t only more secure passwords that your manager can provide; it can also help protect against phishing attempts. By recognising only trusted URLs and storing your passwords accordingly, your password manager can help deter you from illegitimate sites and prevent successful attempts to hijack your login credentials.

Password managers come highly recommended by cyber security experts – ourselves included – who recognise the growing conflict between simplicity and security, but still want a solution that provides the best of both. While we recognise the misgivings behind cloud-enabled password storage, they’re still the most secure option available to users and businesses.

While it’s true that browsers such as Chrome, Edge and Firefox offer their own, in-browser solutions for password management, these aren’t recommended. Designed more for convenience than security, these often lack the features of a more dedicated solution. Additionally, the passwords are saved on the user’s device in an unencrypted file format, opening them up to further data theft in the event of a successful breach.   

Whether it’s in the cloud or on a personal device, a password manager remains the easiest and most secure solution to our ever-expanding list of online accounts.


So long as yours is protected with that extra added layer of security, they need never be lost to hackers – or betrayed by our failing memories – again


Find Out More About MYKI

Protect your business from one of the leading causes of Data Breaches – your password security.

MYKI PASSWORD MANAGER


 

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