Password manager system and the importance of password security

A password manager system is a critical tool to protect your personal and financial information and help you avoid cyber-attacks.

In the digital era in which daily connections to e-mails, banks, service platforms or online product sales websites multiply daily, it is necessary to increase the security of your passwords to avoid becoming a victim of cybercriminals. 

But how do you manage all the passwords you may use in a day? To answer this question in detail, we will discuss what a password management system is and why it is important. In addition, we will answer relevant questions such as whether they are really secure or whether they can be hacked.

What is a password management system and what is it for?

A password management system is software that allows you to create unique and secure passwords, store them in an encrypted virtual vault under a master password and automatically retrieve them to log into your accounts.

Some of these tools perform complementary functions to strengthen your online security, such as: 

• They synchronize your passwords across different devices and operating systems. 
• They detect security flaws and vulnerabilities such as using the same password on different web pages and suggest you to change them.
• They warn you that a website may be fake to protect you from possible scams.

How does a password manager work?

A password manager works with a password called master that is used to automatically access all the profiles you have open on platforms, web pages, applications, etc. 

This password is the only one you need to remember, since the password manager is responsible for providing you with the relevant accesses by retrieving the passwords you have saved in it when you have configured it. 

Thus, when you need to log in to any digital space, you will only need to enter your master password.

There are 3 types of password managers: those that are installed locally and work offline, those that work online and those that rely on tokens that store passwords on a separate device. 

To start using a password manager, the steps to follow are generally as follows: 

• Install the program on your computer which facilitates the configuration. Once configured, you will be able to use an application on your mobile devices. 
• Create a secure master password that will allow you to access your profiles without having to remember one for each access. As you log in to your profiles, you should save the password in your password manager. 
• Adjust your passwords to make them more secure by following the program’s instructions. 
• Install an extension of your password manager in your usual browser. Many programs provide this option.

Are password managers safe? 

A password manager is a system that increases your online security by reducing the possibility of falling victim to cyber-attacks such as phishing or ransomware. 

However, its effectiveness depends not only on the use of this type of system but also on other factors such as whether the provider you choose is reliable and has a good reputation among users. 

Take into consideration that it offers regular updates and provides good technical support.

Bitwarden, 1Password or Dashlane are some of the most widely used managers in the USA due to their reliability and the features they offer, although you should choose a solution that suits your profile as an Internet user.

You should know that the most popular browsers (Google Chrome, Safari, Microsoft Edge, Firefox, etc.) also offer password managers that allow you to synchronize and improve your passwords. 

On the other hand, an element that you should not forget is that your master password must be strong since it is the key to all your private spaces on the Internet. 

Can password managers be hacked?

Password managers can be hacked, since no one can guarantee 100% infallibility, although it is also true that attacks are more likely to be carried out on software with greater vulnerabilities (such as unpatched security flaws) that the cybercriminal can exploit. 

In any case, the hacking of your accounts depends on other factors, since, even if your manager is impenetrable, if your master password is stolen you will not be able to prevent someone unauthorized from entering your spaces. 

In this sense, acquiring good practices related to digital hygiene is essential in any of your incursions into the digital universe. 

4 essential tips to protect your password manager

As far as password managers are concerned, it is important that you avoid two scenarios that can occur. On the one hand, you may forget your master password, which will prevent you from accessing your accounts; on the other hand, if a hacker gains access to your password manager, he will gain access to all your accounts. 

To avoid this, keep these tips in mind: 

1. Use Two-Factor Authentication (2FA) which is a 2-step identity management system that reduces the vulnerability of systems.
2. Choose a secure password with random words or combinations that have nothing to do with your profiles, pets, personal data, etc., and do not save it on any digital media. 
3. Keep your password manager up to date, as failure to do so can become a gateway for cybercriminals.
4. Choose managers that use zero-knowledge models, i.e. that do not have access to your data so that if their servers are attacked, your information is not compromised.

Why password security is important?

Password security is really important, as it protects your personal information to prevent you from being exposed to identity theft or data privacy violations. 

Not having strong passwords or duplicating the same password on different platforms to avoid forgetting them exposes you to attacks against your reputation, your financial assets and even your physical integrity.

As we have been discovering in this article, creating strong passwords and storing them securely thanks to a password manager allows you to considerably reduce your vulnerability on the network. 

At Smowltech, we provide you with highly secure tools for your remote monitoring, both as part of an educational or professional project through our proctoring plans.

We invite you to request a free demo so that we can take you on a tour of our solutions and advise you at all times so that you can choose the plan that best suits your needs.