We have been using the internet for almost 35 years now, and still, most of our online passwords are “123456” or “password”. Sure, these passwords are easy to remember, however, a recent security study reports that these kind of easy-to-remember passwords are easy-to-hack too. This eventually increases the risk of cybercrime. According to a report made by Norton, the costs of cybercrime have reached an enormous figure of £130 billion in just 2017.

One of the most efficient ways to reduce the cybercrime and keep your data safe is creating strong passwords and a different one for every website or service you use. Most of the websites even ask you to create passwords that are numerical, have symbols, non-dictionary word letters upper and lowercase. Imagine remembering 10 different passwords with such combinations. This is when a password manager can come to your rescue, and also help you limit potential damage to your accounts online.

Create master password to avoid hacking with password manger | iTMunch

What is a password manager?

A password manager is a software application that can be used to store your login information from different websites you use and help you log onto it automatically. The password manager encrypts your entire password database and offers you a master password. The master password is the only password you will have to keep in mind, instead of creating and remembering ten different passwords.

There are various password managers out there that can help you secure your database online. But, how do you make sure you select the right one? Keep reading to find out.

What makes a good password manager?

Like any other software, password managers come with various characteristics that have their own set of pros and cons. However, there are a few key characteristics that every password manager must have. The following points tell you about these key features that are necessary for securely managing passwords:

  • Encryption

Make sure that the login credentials are always stored in an encrypted form so that even if your device is stolen, the thief would not be able to recover the passwords.

  • Secure resource usage

There are a number of vulnerabilities that can arise due to unsecured resource usage. Hence, while choosing a password manager makes sure that it offers secure resource usage.

  • Cross-platform

Before selecting a password manager, you need to check whether it works on multiple devices and operating systems like Android, Apple, Window devices, etc.

  • Password generator

In order to create strong passwords, every good password manager must have a password generator. You can generate passwords in some applications on a registration page, within its browser extensions, or within the app.

  • Usability

The application you are planning to use to store and manage all your passwords must be easy-to-use and simple to understand.

What can a password manager protect you from?

By using software to manage your passwords, it will be able to protect you from multiple online threats such as:

  • Identity theft and phishing

In case you visit an unverified browser or a malicious website, the password manager won’t autofill any of your personal details.

  • Data compromise

By using a password manager, you will be immediately notified in case of a data breach or compromised website with security alerts.

  • Password attacks

Using an application for managing passwords will protect it against the several methods used by hackers such as dictionary attacks, rainbow attacks and others.

  • Password resets and failed logins

Do you really want to spend your day resetting passwords for various accounts? A password manager can help you avoid this and use your time more productively.

SEE ALSO: 7 Updates to ‘Google My Business’ You May Have Missed

Top 3 password managers in 2018

iTMunch offers you a list of top 5 password managers that are commonly used by businesses. Keep reading to know more about their features and choose the ones that suit your business the most.

  1. Dashlane

Dashlane works across all platforms such as mobile, tablet and computer to store, manage and change passwords in one place. It offers three plans: free, premium and businesses. Click here to know more about this software.

2. LastPass

LastPass offers 2 plans: free and premium. You can use it either for personal use or for your business. Both of these versions will generate and store several logins in a secure vault that will be protected by your master password. Read more about this application here.

3. RoboForm

Also, known as the best password manager in the world, RoboForm’s latest update offers an unlimited amount of logins in its free version. For a brief overview of this manger, click here.

Hackers can keep trying to crack your login credentials and password. Hence, it is necessary for you to understand the importance of a strong password and use various ways to secure it. Keep reading iTMunch for more such blogs from the world of technology.