Password Manager

By Robert Townsend on October 30, 2018

Background –

Today, there are still people who use the same passwords across their online accounts. Often times, passwords are only changed when they are forgotten. Identity theft is a result of these poor password practices. Considered one of the top safety practices recommended by security experts, the password manager is a tool that should be adopted into your daily account management routine (consumerreports.org). Maybe you have heard of password managers before, but thought they were too technical. The good news is, password managers are fairly simple to implement. It will greatly increase the security of your online accounts through automatically generated and complex passwords. These secure passwords are managed through the password manager company of your choice. The best part is, you will not need to memorize the complex passwords associated with each of your online accounts.

How does it work?

A password manager works by keeping all of your online account passwords in one application. Password managers will create, retrieve, and track all of the random, complex, and long passwords of your online accounts. Additionally, they will keep your important information safe: credit card numbers, CVV codes, PINs, and security question answers are safely stored. A password manager keeps your vital information safe by encrypting your data using AES 256 encryption. This could take decades for a hacker to crack– that is how strong the encryption is. The only password you need to remember is the master password. Once you use that password and get into the app, you will have access to all of your other passwords for each and every online account that you use.

Are there any risks?

What if someone gains access to your master password for your password manager? There are defenses in place to prevent this from happening. Password managers have the option to use multi-factor authentication, which requires not only your master password, but an authentication code sent to a device that you own. These password managers also encrypt your passwords locally, before it leaves your device and goes to the server of the manager. It is stored in encrypted form, leaving you with no worries about data breach risks.

Password Manager Options –

There are different reputable password manager companies out there for you to choose. The following are some of the popular and widely known password managers.

1Password –

1 password logo

Figure 1 – Source: https://blog.agilebits.com/2014/10/17/1password-5-for-mac-is-here/

1Password is a password manager that has been gaining popularity over the years. Priced at $2.99 a month, it works on IOS, Windows, Android, and Mac operating systems. There is a trial version to test out how it works too. Some of its key features include: a strong password generator, a digital wallet for bank accounts, and has a watch tower function that alerts the user when breaches happen around the web (lifehacker.com). The key difference from this password manager compared to other password managers, is its ability to perform and work as an authenticator app. It stores an added secret key to the encryption key; this key lives on the device, so only you have access to it.

1 password gui

Figure 2 – Source: https://www.curvve.com/blog/guides/2016/a-short-review-of-our-most-critical-mac-osx-apps-for-2016/

LastPass –

Last Pass password manager logo

 

Figure 3 – Source: https://www.pcmag.com/review/317692/lastpass-4-0-premium/

LastPass, which was purchased recently by known remote access software company LogMeIn, is another popular choice in password manager. The best part about LastPass is, it is free. Some features include: two-factor authentication, credit monitoring, auto-fill, and ability to use LastPass on other computers since your information is encrypted on their cloud servers. There is an option for the premium version that is priced at $24 a year, which is cheaper than most. The premium version allows other authentication options like fingerprint scanning and the ability to sync between mobile devices and desktop. LastPass is strictly a cloud-only service so there is no local vault. Passwords are accessed via web browser, and is supported by Firefox, Chrome, Edge, Opera, and Safari.

LastPass Interface

Figure 4 – Source: https://www.digitaltrends.com/computing/best-password-managers/

Dashlane –

Dashlane logo

Figure 5 – Source: https://www.microsoft.com/en-us/p/dashlane-password-manager/9pp8m6lpfkgf#activetab=pivot:overviewtab

Dashlane was launched in 2012 and received a refresh in 2016. New users are attracted to its simple user interface. This sharp and easy to use application is free, but if you want your passwords to be synced across your devices, then it is $40 a year for the additional services. Some of Dashlane’s key features include: two-factor authentication, sharing passwords between emergency contacts, ability to change multiple passwords across different websites with just a few clicks, and a digital wallet feature. Dashlane offers you the ability to store your passwords locally via encrypted vault. The premium version allows you to sync it to their cloud where it is encrypted and stored. Dashlane supports Windows, MacOS, Android, IOS, and contains plugins for most of the popular web browsers as well.

Dashlane password manager interface

Figure 6 – Source: https://www.digitaltrends.com/computing/best-password-managers/

Conclusion –

Using a password manager will overall, secure your online accounts with stronger passwords. Most people use the same password across their accounts, despite knowing the consequences. With a password manager, you can avoid this dangerous practice by switching to complex passwords for all of your online accounts. You will not have to memorize any complicated passwords, and you will not have to worry about your passwords being stolen. This best practice to password management should be adopted by all, and I hope by learning the basics of how a password manager works, you will switch to using one in your daily life.

Sources –

https://www.consumerreports.org/digital-security/everything-you-need-to-know-about-password-managers/

https://www.cnet.com/news/the-best-password-managers-directory/

https://www.cnet.com/news/the-best-password-managers-directory/

https://lifehacker.com/5529133/five-best-password-managers

https://www.digitaltrends.com/computing/best-password-managers/

https://www.curvve.com/blog/guides/2016/a-short-review-of-our-most-critical-mac-osx-apps-for-2016/

https://www.microsoft.com/en-us/p/dashlane-password-manager/9pp8m6lpfkgf#activetab=pivot:overviewtab