There are many steps needed to create a strong cybersecurity strategy, and managing passwords is one. If Multi-factor authentication (MFA) is in place, the need to change your passwords is not as critical – unless you know your password has been compromised. However, if MFA is not in place, implementing and enforcing complex passwords in conjunction with password expirations is needed.
Why the fuss? Cybersecurity is listed as the number one business risk in a PwC Pulse Survey, with 40% of all respondents listing “more frequent and/or broader cyber attacks as a serious risk and another 38% calling it a moderate risk. Cyber threats are no longer solely the domain of the CISO.”
How can you help mitigate the risk of cybercrime? One of the many things you should do is create strong, unique passwords. When an employee leaves your company, revoke their permissions and change any shared passwords. The same is true for third party vendors. Their procedures should be covered in your company’s vendor management policy and vendor cybersecurity questionnaire.
Many IT experts recommend that people update their passwords every three months. And if you know you’ve been a victim of a cyber attack, you should change it immediately. But we get it – changing passwords is a hassle. In fact, one study found that 30% of people find resetting passwords to be as stressful as retiring, and 67% of respondents agreed that losing passwords is as stressful as dismissal or changing jobs.
According to Wired, “123456” and “password” are still the two most commonly used passwords on the web. Seriously.
To help reduce stress among employees and keep accounts secure, IT experts recommend using a robust password management system. JDL Technologies can recommend the right password management system for your business that will store, generate and update passwords for your employees and can sync your passwords across all your devices. While they come with a fee, it’s nominal. And you only have to remember one password. For your convenience, here’s Wired’s guide to better password security.
Of course, there are many layers to strong cybersecurity protection. We invite you to learn more at https://jdltech.com/cybersecurity/ and contact us to discuss your cybersecurity needs.