It really depends on how you use them.
Passwords are key to every company. They are the first level of security to all your accounts and making sure they are VERY difficult to guess/hack/discover is imperative. A lot of people use keywords that are memorable to them, so they don’t forget their password. Or even worse, they write them down either on paper or in their notes and store them in an unsecure location. These are all very bad habits when it comes to password security.
The image below this article is from The Cyber Security Hub and shows how long on average it will take for hackers to obtain your password, depending on the number of characters in the password and what those characters consist of e.g., numbers, letters, symbols. A lot of people use only letters of one case and numbers with a password normally not consisting of over 10 characters. This means it would not take long for cyber criminals to crack your password.
We recommend using password management tools for your company as well as personal passwords. These will allow you to use password generators to create long and complex passwords which contain a mixture of symbols, lower- and upper-case letters, and numbers, without having to remember the passwords yourself. All you will have to do is remember one VERY complex password that you will need to access your password management account. To make this system even more secure you should add two factor authentication. This means you will need a code from a personal device (e.g., mobile) to get into the system. These codes can be sent either via text, email or through a mobile application.
Having a password management system for all company passwords will also help improve security internally, making the full management of passwords much easier. A system like this ensures you only give access to passwords to the people who need them, can change them centrally, share them, restrict access, report on used/changed which, etc. This will minimise the risk of a security breach and maintain high password standards throughout the organisation.
121 IT Services offer a fully secure, Cloud Password Management system. For more information click HERE to see our service sheet. Also get in touch with us. Our contact details can be found on our contact us page. We will work with you to enforce a robust password policy and help you best manage your passwords securely.