Are passwords managers safe to use? This question is often raised by people who have not used password managers before, but it is a general consensus amongst the cyber security specialist that password managers are indeed one of the safest ways to protect your passwords.

Password managers can often be referred to as PMs, and the thing about PMs is that even though they provide a lot of reliability, they might have security breaches or vulnerabilities. This is apparent when you see news popping up in social media and other places about breaches. Remember, not all password managers are as secure.

Let’s get acquainted with password managers first, and then we will look at some of the best password managers you should be looking at.

How do password managers work?

Password managers have multiple ways to secure your passwords which makes them extra effective. Yes, there are times when even the best password managers will be susceptible to attacks. Still, it is highly unlikely that premium PMs like, for example, Passwarden by KeepSolid will ever be actually hacked. It is much easier for hackers and scammers to use social engineering to trap you into giving up your password.

The reason why PMs are so secure is that they use encryptions to protect passwords. Right now, the industry-standard encryption s the AES 256 bit. The military, only attribution, also uses it to the level of security that it can provide. Cracking a cipher like these would take ages for hackers to actually brute force through it. In addition, your data is protected through something called a zero-knowledge structure in a manager.

A zero-knowledge structure is a structure or mechanism where your passwords are encrypted as soon as it leaves your device. What it implies is that the password manager provider/company themselves do not get to decipher your passwords even when the passwords end up in their servers.

PMs will usually ask you to set a master password that will allow you to access the vault. Make sure your master password is secure, and the manager will handle the rest. It is also recommended that you use 2-factor authentication for your password manager. In addition, adding biometric authentication is a big plus.

Risks of using password managers

Nothing is completely safe when the matter at hand is the internet. When you opt for a really good password manager, you can usually lay low and enjoy your protection without much worry. However, a few things might put you at risk, even if you are using the highest tier password manager.

KEEPING ALL EGGS IN ONE BASKET

Keeping all your sensitive data in a single place might be risky at times. Usually, when you are using a password manager, you are putting all your eggs in a single basket, and that basket then becomes a very expensive piece of property that holds all the golden eggs for you—things like credit card details and other credentials. So when a breach (though unlikely) happens, you will be at a big problem. Again, however, having a great password manager helps mitigate the chances of you accumulating any significant damage.

Losing backup

A backup may not always be possible when a server breaks down from its roots. You have to then hope for the best and pray that your PM provider made a backup of their server data. It is additionally risky if you put your data in an offline vault.

Device security flaws

Suppose you are accessing your password vault from multiple devices. In that case, the presence of a significant vulnerability in one of those devices can allow hackers to steal your master password and hack your password manager. This is especially the case one of your devices is infected with malware or spyware. When you are infected by such malware, your password will be recorded when you type it in and send it to the hacker, and these cybercriminals will have full access to your password vault unless you are using a 2FA or 2-factor authentication.

USING A LOW-tier PASSWORD MANAGER

If you are using a poor password manager with low-tier encryption and bad security protocols, you are bound to get into trouble. These managers may offer less to no additional protection features, and it is in your best interest to avoid them. When it comes to securing your vault and all that is important within, we suggest you spend a few extra bucks and get a password manager that is worth the money.

Should you opt for a password manager?

Using a password manager has become second nature to keep track of your passwords and avoid many pitfalls of using the same password everything. It helps you keep things organized; use strong and unique passwords everywhere without you having to remember any of them. In addition, some password managers are so efficient and convenient that they allow you to change passwords with one press of a button. As long as you remember your master password, use 2-factor authentication and take residence under a good password manager, you are well on your way to achieving an almost full-proof password vault.

Conclusion

It is important that you trust the company that is providing you with a password manager. At present, there are many well-reputed companies with flawless records that you can place your trust in. Furthermore, while even the best PMs have some vulnerabilities, it’s almost impossible to exploit said vulnerabilities and harm people who are using password managers and following the protocols.