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42% of Companies Must Improve Password Security. Here’s How to Do It.

February 04, 2021
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Improve Password Security & Add Crucial Protection to Avoid Disaster

Passwords are the most commonly used tool for security – and the worst. In a recent study, 42% of respondents said that their organization had been compromised because of a bad, stolen or cracked password. That means that every company must make a serious commitment to improving password security if they don’t want to join that group because more than 80% of data breaches in the last 12 months were caused by password compromise.

The Cold, Hard Facts

Every day, staffers are doing a variety of things that leave companies open to password-related disasters. In a study that spanned just three months (January to March 2020), Microsoft found that  44 million of its users had used the same password on more than one account – and that’s just the tip of the iceberg.

  • 31% of respondents in a survey admitted that their organization had been breached as a result of user credentials being shared
  • 42% of organizations rely on sticky notes for password management
  • 91% of participants said that they understood the risk of password reuse but 59% admitted to doing it anyway
  • 22% of employees surveyed have shared their email password for a streaming site
  • 17 % of employees surveyed have shared their email password for a social media platform
  • 17 % of employees surveyed have shared their email password for an online shopping account
  • 43% of survey respondents have shared their password with someone
  • 72 % of people reuse work passwords for their personal accounts
  • 32 % admitted to using a list of work passwords written on paper or kept in a text document
  • 35 % of respondents said that they use a different password for every account

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Choose Passly for an Immediate Security Boost

Secure identity and access management is a top priority for CISOs worldwide because it’s crucial for preventing cybercrime.  Passly is the ideal solution for the job. This multipurpose dynamo combines many of the top mitigations recommended by security experts into one simple, affordable solution including multifactor authentication (MFA).

It’s a simple fact: user accounts are more than 99.9% less likely to be compromised if they’re protected with MFA. This single mitigation has become a requirement in many sectors and it’s a universally lauded best practice in every industry. It stops credential stuffing cold, and takes the sting out of a phished password, as well as preventing potentially unauthorized access by malicious insiders

With Passly, you not only get the power of MFA, but you also get an entire multitool full of secure identity and access management must-haves including single sign-on, secure shared password vaults and easy remote management. Plus, Passly gets to work in days, not weeks, with seamless integration of over 1,000 commonly used business apps. 

See Passly in action in a technical demonstration video, or contact the experts at ID Agent to see how Passly benefits your business in a personalized demo.

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