Keeping information and data in your business secure is a top priority for any organization. A wealth of technology is available to layer on security, from antivirus protection to network security solutions, but it’s also essential to consider the human element in enhancing data safety. Your password management solution can make a difference to the overall security of your business. Is your chosen password management system limited to an excel spreadsheet or pieces of paper? That can leave your systems open to data breaches, malicious hacking, or other attacks.
Why does password storage matter so much? Perhaps you’re currently using outdated security measures. Maybe your protection needs a complete overhaul from the ground up. Whatever the reason, we cover why safe storage is integral to your overall IT security below.
Why password storage matters
Your employees likely already know the importance of passwords. But being conscious of the passwords they use for their banking and online security may not carry across to business activities. Password storage matters as the wrong method can weaken the security of your system by providing access to all the information the malware or a malicious hacker needs to enter your systems. Essentially, you are leaving the door wide open for them.
Appropriate password storage should be a top priority for businesses. Implementing the right technology is step one. Educating your staff and providing an easy and user-friendly solution is key to building up that security over time. Password storage matters, and the more emphasis you put on this area, the more effective it is.
5 problematic password solutions that you should leave behind
For as long as computers have existed, people have stored their passwords in various ways. You’ve likely witnessed the password post-it in the office at least once. Or perhaps you’ve found passwords shared via email or IM. While these methods may be efficient, they also leave a convenient crack in your business’s armor. This gap potentially allows outside sources to access information and data you want to keep private.
Perhaps you personally have gone the easy route in password management. Maybe you have staff that uses these methods today. Here are five password storage practices that you should move away from as a business:
Excel documents
Excel documents are a classic way that many businesses store passwords in volume. Whether those passwords provide access to local network documents or online accounts, keeping everything in one place can pose a significant risk to your company. Whether or not an excel document is password protected, it still carries a risk. As a document that is easily copied to other systems, the protection of an excel spreadsheet reduces each time it is shared. All it takes is one person to remove a password from their copy or place a document in an accessible location, and every single password is compromised.
Desktop notes
Virtual sticky notes may seem practical for storing passwords, but their lack of security makes them a real risk. With no added encryption or protection, anyone that accesses your desktop has instant access to the login details you’ve placed there. Anyone from the IT professional remotely accessing your PC to malware installed on a device can immediately use this information to access valuable, otherwise protected data. If you want to enhance your security, this is an excellent place to start.
Pen and paper
Pen and paper are a classic password habit and a method that puts your business at risk in entirely different ways than virtual storage. By storing company passwords in notebooks or on paper, you introduce the risk of real-world access and leave your system at risk. Access to protected data could be as simple as someone noting a password as they walk past a desk or reading the password through a webcam in a virtual meeting.
Phone storage
Many people believe that mobile devices have enhanced security compared to the desktop they use for everyday work. Whether they have a company-issued phone or use their personal devices, storing passwords in note applications on mobile doesn’t provide the security that many expect. Devices without two-factor authentication, password protection, or fingerprint scanning can increase businesses’ risk, providing an alternative avenue for costly data breaches.
Email and IM
Digital communication is valuable to business operations but may pose a risk without proper cybersecurity measures. Sharing passwords over email and instant message services can provide access to data and information through platforms that may not have a high protection standard. Deleted messages and emails are still a threat if they are not entirely removed, exposing your company to risk.
What tools are available to enhance password protection?
The average business has many different passwords required for daily operations, and asking your team to remember dozens of logins at one time can be unreasonable. In many cases, too many logins can lead to loss of productivity and dozens of access requests. However, there are ways to provide high password protection standards with the right technology without increasing the risk to your business. Here are some of the solutions you may want to consider:
Password management systems
Password management systems provide an effective way to condense passwords into one easy login. With high encryption standards, password management systems allow users to store logins safely and quickly with as little fuss as possible. Typically, password management tools use two-factor authentication to enhance security. This practice will enable users to remember a single password and instantly access a library of different logins.
Single Sign-On technology
Single Sign-On technology is a valuable tool in effectively managing passwords. SSO allows for system integration with a single password, providing a way for users to access the programs they need. The goal of SSO is to reduce the number of passwords required to access applications and software. This benefit, in turn, helps businesses reduce the risk of password leaks or ‘open doors’ into their systems. SSO is particularly valuable in companies where many people need access to multiple integrated systems at one time.
Good habits to implement to improve your password security
How can you improve your password security and keep your systems safe? Using the right tools is the ideal place to start. Once the appropriate procedures are in place, you can use these services to improve your password habits. By doing so, you can reduce risk and enhance safety. Some good practices that SSO and password management systems can support include:
Generating unique passwords
Password management systems typically offer generated, randomized passwords. These passwords enhance security by removing the human element of password creation. This technique makes each login far more challenging to guess or ‘brute force’ by anyone outside of your business, and eliminates the risk of password reuse. By creating unique passwords in a password manager, you can easily enhance security in seconds and reduce the burden of remembering each password.
Eliminate password expiration where possible
For years, it was recommended to change passwords on a set schedule, such as every 30 to 90 days. However, research has shown that this causes users to choose predictable passwords, such as adding a number to the end, and changing the number at every reset. Current National Institute of Standards and Technology (NIST) guidance recommends moving away from password expiration periods.
Changing passwords after a suspected breach
If a breach is suspected or confirmed, changing your passwords straight away can help to prevent any additional access. Implementing a password management solution or SSO at this point can be the ideal way to bulk up your security and avoid the repetition of past breaches. Researching and investigating the cause of a breach can also help identify areas of improvement within the business.
Ensuring default passwords are changed
Default passwords are standard for many IT systems to accommodate new users and quickly reset passwords. Ensuring default passwords are changed as soon as possible can be an effective tool in preventing unauthorized access. Password management tools and SSO systems can identify weak passwords within your systems, allowing you to determine which should be changed swiftly. Ensuring staff is trained to change their original passwords and improve awareness is also valuable in preventing human error.
Implementing better password protection across all devices
Password protection isn’t limited to desktop computers. Employees that use tablets, smart devices, or mobile phones for work requirements should also have access to the same degree of protection. Password management platforms often include a mobile counterpart. This allows for a higher degree of security, typically in the form of two-factor authentication through fingerprint or face ID access. By implementing the same security measures across all platforms, you reduce the risks of weaknesses in your system.
Need to improve your password storage processes? Whether you’re currently using Excel or concerned about a breach with current methods, our skilled team can help. Get in touch today to learn more about how we can implement an ideal password management solution for your business.
