Don’t overlook how the dangerous practice of password sharing is a data breach danger.
It may seem like a quick solution to access control issues, but password sharing among your staffers could open your company up to expensive and harmful cyberattacks. 42% of companies already need to improve password security. Here are two ways that password sharing is a data breach danger, and one solution that can help stop it once and for all.
Six Scary Statistics
Here are a few quick facts to keep in mind about staff password sharing:
- At least 65% of people reuse passwords across multiple sites.
- About 13% of people use the same password for every single account.
- More than 81% of data breaches in 2020 have been by poor password security.
- 42% of people share their work login credentials to work together with their teammates.
- 61% of users are more likely to share their work passwords than personal passwords.
- 34% of business users share passwords to reduce cost on user-limited software.
Too many hands on a password makes it useless.
While it seems safe enough, businesses will not save money by handing around the login for a user-limited account. The security risk is too great, especially as more and more people in an organization need to use that account, so the login keeps getting passed around. It is almost inevitable that it will become compromised, creating an opening for bad actors to slip through and into critical systems and data – and costing a fortune in investigation, mitigation, and recovery expenses (and in some industries, additional regulatory fines).
Who else has that password?
Can you be sure that the only people who have the shared password are people that you trust? Are you willing to take the risk that it hasn’t already been compromised on the Dark Web? Are you certain that it isn’t also the password for the Netflix account that your assistant shares with her sister? Are you confident that the person who made that password isn’t one of the 59% of business users that understand the risk of password reuse admitted to doing it anyway in a recent survey? The answer to all of these questions is no.
Password sharing is an expressway to a data breach.
The fastest way to put a stop to password sharing is to add Multifactor Authentication and Single Sign-on with a secure identity and access management solution like Passly. The power of those two tools combined makes sure that the right people have access to the right things at the right levels.
Multifactor Authentication eliminates password sharing by requiring a second form of identity authentication that can be delivered by app, text, or in other ways to be used every time a user logs in, making it almost impossible for staffers to share passwords. It also takes the sting out of badly made, insecure passwords as well as providing protection against credential stuffing attacks and password cracking.
Single Sign-on changes your security calculus from securing and adjusting permissions for many different logins to many different applications into setting permissions and securing access for each staffer on their own unique Launchpad, limiting the number entry points to systems and data while making it easy for IT staff to adjust access, eliminating the cumbersome process of finding and changing access permissions constantly.
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Don’t Risk It – Secure Access to Systems and Data Now.
Passly also seamlessly integrates with over 1,000 commonly used applications and deploys in days instead of weeks to secure business systems and data fast. Watch this technical demonstration video will to see exactly how Passly brings many powerful tools together into one, cost-effective secure identity and access management solution.