“I have the root passwords of all my client's servers,” KM-Tiger posted. KM-Tiger said entrusting password data to a third party is a “nonstarter” for any business that’s “serious about security”. Technology is improving all the time – but so are the techniques used by scammers. In this guide, we discuss some of the most popular password management solutions.Ĭan you trust password managers?Nothing in life is 100%. But ever since the number one contender, LastPass, announced a devastating data breach that put the data of millions of users at risk, many founders have been considering their options. Password management systems are a clear solution to the problem. Staying safe from cyber attacks is especially important for SMES who might not have the resources or infrastructure in place to protect them from such breaches. To protect your business from such attacks, it’s vital that all your staff use unique and hard-to-crack passwords, never reuse passwords and, importantly, keep records of their passwords somewhere safer than a post-it note in their desk drawer. The average cost of each attack was around £4,200, rising to £19,400 for medium and large businesses. In 2022, a whopping 39% of UK businesses fell victim to a cyber attack. With recent security breaches to consider and endless options to choose from – where do you even start? Choosing a password manager for your business can be tricky.
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