When did you last change your work password? Was it when the system prompted you? When you were first hired? Or maybe the answer doesn’t matter. When it comes to password safety, old adages don’t always apply anymore. Let’s take a look at what today’s business password management really needs by focusing on the valuable data behind the password.
What Causes the Persistent Password Problem?
At least part of the issue with passwords is that user hygiene hasn’t gotten any better in recent years. In fact, some evidence suggests it’s gotten worse. A 2020 study from LastPass found that more than half of users hadn’t changed their passwords in the past year. Some elected to keep their passwords the same even after a data breach hit their web accounts.
Instances of password reuse have become more widespread in recent years. Indeed, two-thirds of people in the same survey indicated that they “always” or “mostly” use the same password and/or slight variants on it across multiple web accounts. That’s up from 8% observed two years earlier. It’s also despite the fact that 91% of users knew beforehand that reusing a password is a risk.
How Bad Password Safety Habits End up Hurting Business
Many users take their password security for granted — even when they have reason not to and when they know better. They don’t just end up hurting themselves in doing so. They also end up costing the business big in terms of legal fees, compliance penalties and other da ..
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