Managers use as many as 100 passwords in their daily work
An average top-level manager in a company uses around 100 passwords daily, according to research by PassCamp.
Due to the global Covid-19 pandemic, many companies started working from home (including tech giants as Google and Facebook). The situation increased the budgets on cybersecurity. Password management tools immediately appeared on the radar.
The research conducted by an enterprise level password manager ( PassCamp) highlights a serious password problem in companies.
Can you remember all the seas in the world?
Research data shows that an average mid to high-level manager (CIO, team lead, head of the department, or other responsible people in the team) has access to 98 passwords.
Trying to remember them all is a huge challenge . Especially when the passwords are unique and complex, as they should be – after all, they protect the company’s most valuable assets.
Imagine if you had to remember all the largest seas in the world by heart and use these names constantly in your daily work. Well, in this case, there are even more passwords to remember and they’re definitely not as easy to remember.
Common costly mistakes caused by too many passwords to remember
When professionals need to remember such a number of passwords (if they don’t have an enterprise level password manager to securely store them), they look for easy ways to accomplish this task. And put the security of their enterprise at risk.
- They store plaintext passwords in Excel files on a computer or other spreadsheets;
- They reuse some or even all passwords to save time and avoid the difficulty of memorizing them;
- They use regular browser tools to save passwords, mainly because they are free ( risk the sensitive data );
- They share their passwords with colleagues and business partners by email or chats because “it’s just faster.”
However, each “facilitation” of this kind rather than improving security of the data, in fact creates more risk for the company.
Enterprise level password manager to manage passwords easily and securely
Using an enterprise level password manager in a company helps managers and employees to remember passwords effortlessly and use them in their work efficiently.
A trustworthy enterprise level password manager (as PassCamp) asks to remember only one password (the Master Password). It unlocks all the other data stored in a secure vault, protected with the innovative technological architecture.
This means that any employee can generate and store 98 or 980 unique passwords without actually needing to remember them. The one master password unlocks access to secure storage where all the others are stored. This solution allows the company to avoid password mistakes caused by having too many credentials to remember.
The research was conducted by PassCamp in December 2020. Learn more about this enterprise level password manager, its technological implementation, and options for your company here.
