Password managers are a special tool that can either be installed as an app or be integrated with another service. Google chrome has a password manager, when you put in your password, google will often ask if you want to save this password. Apple also has a built in password manager. Apples password manager even has the ability to generate strong passwords and use Multi-Factor Authentication.
According to demandsage, the average person has around 100 passwords. Data reportal says there are about 5.52 billion internet users around the world. It is estimated that 79 million Americans, or 1 in 3 use a password manager (security.org). In 2022 around 24 billion passwords were stolen.
With this data we can average about 552 billion accounts. one third or 184 billion (if the world had the same percent as Americans) have a password manager. while estimated yearly, the amount of passwords that are stolen.
What is a Password Manager? A password manager is used to store passwords securely for reuse. This is to help prevent you from forgetting your password and also speeds up login times. Password managers can sometimes be used across different devices, this way if you sign in to your account on a different device, you will still have access to all sites you signed up for.
Why You Should Use a Password Manager
You should use a password manager to help encourage good security habits. Be honest, have you ever reused a password for multiple websites? The sad truth is, it is very common for individuals to reused their emails and passwords for many if not all their accounts. studies show 62-84% of users reuse their passwords (demandsage). This is unsafe as it can lead to attackers (hackers) to use credential stuffing attacks to get access to all of your accounts.
Credential stuffing happens when one website or company is breached by a hacker. This hacker will likely then sell data it gathered on the dark web. This data has a high chance of having your email and password. Other hackers will buy this data and try to log in on multiple websites with these login credentials. This results in all of your accounts using the same password to be compromised.
How To Use a Password Manager
Stated previously, a password manager is used to remember your passwords for you, and sometimes create unique and strong passwords. To use them properly, the password manager should keep track of just about all logins you use. You must create a separate password for every site you login to. Luckily you will not need to remember all the unique passwords to each site, because the password manager will remember for you. You can either have it autofill to log in faster, or you may open the password manager to view the password directly.
How Safe is a Password Manager
The safeness of a password manager depends on a few factors. One factor is if it is a reputable password manager. You should not just use any password manager, you should ensure it is a proper manager. This can be provided by well known companies, or use ones from apple or google.
Next is your security habits. You may worry that it is unsafe because if someone gets access to the password manager, then they will have access to all the accounts stored on it. This is correct, you will want to ensure nobody can get access to your account. You must practice safe security habits such as avoiding phishing attacks or scams.
The password manager itself will not remember its own password, or rather you should remember this password. This is because you may need to sign in again if you are logged out or need to log in from another device. So your main account, the top account you own, which can be your email, apple iCloud, google account, etc. These should have one strong password you created and remember yourself.
By practicing proper cyber hygiene, you will be able have better secure your online accounts and ensure online privacy.
References
Security (2023, September 13) Password Manager Industry Report and Market Outlook (2023-2024). Security. https://www.security.org/digital-safety/password-manager-annual-report/
Datareportal (n.d) Digital Around the World. datareportal. https://datareportal.com/global-digital-overview
Kumar, N. (2024, November 5). 35 Password Statistics (2024): Data Breach & Password Security. demandsage. https://www.demandsage.com/password-statistics/
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