Are Password Managers Really Safe?

Due to the steady growth of the internet over the past decade, we have tons of stuff to do online. However, all these sties require some sort of account. And sadly, all these accounts require a password. Now, we know the merits of a unique and strong password, but how many of us really follow such guidelines. Hence, it is precisely this human phenomenon that gave rise to the era of password managers. Today, even the most lightweight user must have come across some variant of said managers. Not only are they convenient to use, but easy enough to manage. But it begs the question, are password managers really safe? Let’s find out!

What is a Password Manager?

A password manager or Vaults, as some companies brand them, is a simple piece of software. And it only has one distinct attribute: storing passwords. But how it actually does so is quite phenomenal. These software programs not only generate a unique password for each and every account stored within them, but also provide double on-top protection in the form of encryption and multifactor authentication. It’s a simple solution to a very important issue because data security is as important as teh date you keep – in our times, very important. It also saves us as users a lot of stress because there are few things more frustrating than spending time to remember a password or locking yourself out. A recent survey done by Express VPN examined the frustration behind passwords with Americans, British and French participants ranking it second – only behind the slow WIFI connection.

Do You Really Need One?

Which brings us to our next question: Do we really need a software to help us remember a password? Sadly, the answer is yes. Typically speaking, almost any website on the internet requires an account with a unique password. But it is very hard to actually keep track and remember tens and hundreds of unique passwords. That’s why most people tend to repeat passwords across different accounts, making their online activities prone to threat.

The Manager simply removes the need for having multiple unique passwords by automating the task.

Is It Safe to Use A Password Manager?

But simply because one needs a password manager, doesn’t make it a good choice, right? Or are these Values safe to use? Generally, people would be reluctant sharing their private information with an application, and rightfully so. But what is it that make password managers work? Here we will look at a few pros and cons regarding the Manager and try to figure out whether it is really as secure as advertised?

Common Risks Associated with Password Managers

First up, we have to get this out of the way: THERE IS NO WAY TO STAY 100% ONLINE. This is a hard truth that many advertisements fail to convey when they proclaim your total online safety. A Fail-Safe doesn’t work on the net, thus there are no absolutes when it comes to password managers.

Especially when they have the following drawbacks:

• • All of Your Data Together: Even when you use a common password across multiple accounts, chances are some might be overlooked. But that is not the case with a Manager, as all your accounts are displayed at the same time.
  • Not all Devices are Created Equal: While it is true that a password manager might survive a hack, it is not the same for your device. If your device is already infested with a malware such as a keylogger, then it is game over.
  • Human Error: The most common issue with any program is the rate of Human Error. Take Multi-factor authentication, for example. Even if the Manager provides the feature, if the user chooses not to utilize it, then that’s that.
  • Faulty Software: And this one is also a common issue, especially concerning any software. While there might be awesome programs, chances are there are more fakes and subpar ones easily available for use. Not only are they cheaper, but also advertised promptly, making them a priority choice.

Although these are some glaring risks, most can be outset by employing a reputable and premium password manager. And to support our claim, here are a few positives regarding these Vaults.

How Do Password Managers Help Us?

Password managers are relatively new to the internet scene, but they do pack a punch:

1. 1. Highly Secure: Top-tier Managers use a bunch of features to ensure data safety. Such as:
      1. Encryption – Most of the Vaults employ the latest AES-256-bit encryption to protect your data.
      2. Zero-knowledge Trust based Design – These programs work on the zero-trust based architecture. Meaning, they themselves don’t know what they are storing, as the passwords are encrypted en route before reaching the target server for storage. Doing so eliminates the risk of internal leaks.
      3. Master-Key – The Vaults come with a master password to unlock your other accounts. Hence, instead of remembering tens of complex passwords, all you have to do is remember one.
      4. Multi-Factor Authentication – Also, these Managers employ MFA as an added security measure to protect your Master Key.
      5. Biometrics – Some password managers also employ the use of Biometrics to negate any uncertainties.
   2. Easy to Use: Let’s face it, Vaults are easy to use as they remove the need of remembering multiple passwords, making your online experience much smoother and time saving.
   3. Auto-generation of Strong Unique Passwords: When you employ a password manager, any new account creation becomes much easier as the program auto-generates and suggests a strong yet unique password.

In Conclusion: Should You Use a Password Manager?

Which brings us to our last question: Should we use a password manager? Yes. While we acknowledge and accept there are certain risks to it, the possible gains outweigh them. A powerful password manager will allow us to remain worry free and still employ strong security measures to protect our online lives. And that too with a single click. Another point to heed is that there’s no way we will interact will fewer websites going further, and as the number of accounts grow with each passing day, so does the need for a trustworthy, secure and smart password manager.