What Is Password Manager? Do I Need One?

Every day, countless people log into their email accounts, social media platforms, and online banking sites. But with so many passwords to remember, it can be challenging to keep track of them all.

A password manager is a software application that stores your passwords in an encrypted database. With one master password, you have access to all of your other account credentials with just a few clicks. This article will explore the benefits of using a password manager over traditional methods for storing login information.

What Is Password Manager?

A password manager is a software that helps create and store complex passwords; most password managers also support storing personal information like bank account details.

For the average user, a password manager will result in having just one strong password to remember for dozens of accounts – yielding incredible convenience and considerable safety.

How Does It Work?

A password manager works by generating a random, unique password for each account. The app will provide the user with a string of numbers and letters (often in the form of a jumbled phrase) that must be copied and pasted into any login field.

By using different passwords for every account, users can ensure their information remains secure at all times.

Finally, some password managers provide functionality beyond just storing account details – most notably, the ability to store any text document inside of the password manager’s encrypted vault. This means your documents are protected as well.

Why Should I Use One?

Password managers are a safer, more convenient way of storing passwords and login information. You also have an extra layer of protection with the ability to store any document encrypted in the password manager’s vault.

There are many benefits to using one, and it is a must for those who value their security.

Benefits of Using a Password Manager

Protect Your Identity

Passwords managers will allow you to essentially segment your data and keep it from being compromised in case of a data breach and brute force.

A data breach is a serious event that can happen to any company and at any time. There are many different ways that a data breach can occur, but more often than not, it is because of insufficient security measures. For example, a hacker may gain access to the server holding all user data and steal passwords using malware or hacking tools.

If an identity thief hacks into one account, they won’t get access to any other accounts that use unique passwords for each website —giving users another layer of protection against online attacks.

Additionally, a brute force attack is an attempt to access any account or data by trying every possible combination of passwords until the right one is found. It can often be a challenge to prevent a brute force attack, because it’s so difficult to know what the person will try next. For this reason, you should create a strong password and have a password manager remember it for you.

For example, a password like “*WQxaT!ND969BwlX7Ztm2cO&” will take 1 octillion years to be cracked, while a password like “password123” will only take 5 seconds to be cracked.

Sync Across Devices

One of the essential features a password manager offers is the ability to sync across all of your devices. As soon as you enter a login detail using one device, the information will be sent to all other devices that have the password manager installed.

This makes data entry a lot easier and less time-consuming- having them on all your devices also means you never have to log in from more than one location at once.

No More Memorizing Your Passwords

Most password managers can store all your passwords behind a single ‘master’ password, which can be as long and complicated as you need it to be. What this means is that users only have one strong password they must remember; instead of dozens or more (whose length and complexity will vary depending on how many accounts you own), the password manager will take care of storing all your other passwords.

This saves users time and eliminates the hassle of memorizing many different credentials- instead, you only need one password as long as it is strong enough.

Are Password Managers Safe?

Password managers are safe because they do not store any user-created passwords on the device itself. Instead, all login information is kept in an encrypted vault inside of your password manager’s app.

This means you must have access to this software before gaining entry into your data; if a thief stole it from you, there would be no way for them to access your data without knowing the master password.

Additionally, many of these software packages now offer an option to store two-factor authentication codes alongside saved passwords inside their secure vaults. This ensures that only you can gain entry into any account protected by a combination of your master password and two-factor authentication.

How to Keep Your Account Secure

Use Two-Factor Authentication

Two-factor authentication (2FA) is a way to protect your account, even if someone has your password. The person who wants to get into your account will not only need the password – but they will also need access to your phone or another device with 2FA enabled.

For example, if you have 2FA enabled on your account, whenever you log in from an unknown device, you will be asked for a six-digit code that is generated on your smartphone.

Use Strong Password

Password managers can generate strong passwords for you, so it is essential to use a master password that cannot be easily broken. This means avoiding words found in the dictionary or using the names of family members/pets.

Password managers can also be set to add numbers, symbols, and capitalization – which makes it even harder for a hacker.

Additionally, enable Two-Factor Authentication on your password manager account, so you are protected even if your password is compromised.

Which Software Should I Use?

Bitwarden (Password Manager)

Bitwarden is one of the most popular and secure password managers available.

Bitwarden offers a free service with all the essential features, such as generating passwords and filling out forms on websites.

All passwords are encrypted with AES-256 encryption before being synced to any other device. You can have unlimited devices using this service.

Authy (Two-Factor Authentication)

Authy is a great option for those who want to protect their accounts with two-factor authentication. It is a free service with lots of features. You can set Authy up to work on multiple devices.