The go to for many people saving their credentials is to use the password manager built into their browser. But should they?
We think the answer is no, and we discuss why in this article.
Although they are convenient, there are drawbacks to storing your credentials in a browser. Especially when considered in the context of a business.
This blog explores the safety of browser-based and dedicated business password managers, their benefits, and potential risks.
A password manager is a digital tool designed to store and manage your passwords securely. These tools create a centralised vault where you can save all your login credentials for various websites and applications. The vault is either protected behind your browser's account login (like your Google account) or by a master password. This should be coupled with a form of multifactor authentication, like an authenticator app.
Almost every password manager comes with a feature that generates strong, unique passwords for each account, doing away with the need to create your own memorable passwords. They also enable a frictionless process for adding your credentials to websites by utilising autofill login for forms.
Browser-based password managers were developed by companies like Google, Firefox, and Microsoft as an easy way to quickly improve general internet security. They are baked into the browser and are simple to use for personal use. They are a much better solution than writing passwords down or reusing the same ones over and over.
Browser-based password managers are linked to your account on that browser and are protected by whatever credentials you have set (i.e. your email, password, and multifactor authentication). They will usually (but not always) sync your credentials across your devices, but only if you sign into the browser.
Business password managers seek to fulfil the same basic security requirements as browser-based ones but with a slew of additional functions and capabilities designed to meet the needs of businesses.
Unlike browser-based password managers, which are integrated into a piece of software, these are standalone services with their own desktop apps, mobile apps, and browser extensions that allow access to credentials wherever the user is. They usually work across Windows and Mac, making them an ideal choice for flexibility. Additionally, they can sometimes integrate with other pieces of software on your computer, allowing for seamless logins.
Most, if not all, business password managers were developed specifically for business use but often offer a personal version as well. Examples of business password managers are LastPass, Bitwarden, Keeper, and PassPortal.
That said, there are good reasons not too do so, and to use a dedicated password manager instead. Especially in a business environment.
Let's start by explaining what it means to store a password in a browser. This is when Chrome, Edge, or your preferred browser pops up and asks if you would like to save your credentials for a website.
While this feature offers ease of access, it isn't a particularly good solution for three reasons.
When choosing a dedicated password manager, it's essential to balance security and accessibility.
Some password managers offer high levels of encryption, ensuring that your data remains secure. They use your password to encrypt your stored credentials. If you forget your password that data cannot be unencrypted, therefore potentially locking you out permanently. They do offer solutions to minimise the chances of this happening, like setting a password hint, or allowing a trusted contact to provide you with emergency access.
On the other hand, there are password managers that don't associate your password with the encryption of your data. Encryption with these providers is based on a unique secret code linked to your account. This means that they can offer recovery options like password reset, security questions, or backup codes. While these are more forgiving if you forget your master password, they may introduce vulnerabilities.
It's crucial to evaluate your needs and choose a solution that offers a reasonable balance between security and ease of access.
We've already seen above that browser based password managers can be vulnerable but so too can dedicated password manager.
No software or technology can guarantee to be 100% secure. There are some reputable password managers that have had flaws identified by security researchers which have been immediately fixed. Thankfully, these flaws were caught by the good guys first and don't seem to have been found or exploited by criminals. That's part of the day-to-day world of technology. Microsoft patches flaws in Windows ALL THE TIME. As does Apple with MacOS.
That said, some password managers have been compromised several times over suggesting that they maybe don't take your security as seriously as they should.
When selecting a password manager, it's advisable to research its history and user reviews to ensure you're choosing a reliable and secure tool.
If you are unsure about which password manager you want to use, speak to your IT support partner, who will be able to guide you.
We provide all of our customers with a business-grade password manager because we feel strongly that they are a vitally important tenet of good cyber security.
Password managers are not 100% foolproof, but they offer a significant improvement over other methods like storing passwords in browsers, writing them down, or re-using the same password across multiple accounts. The benefits of enhanced security, convenience, and password management far outweigh the potential risks.
While no system is entirely invulnerable, using a reputable password manager is a sensible step towards safeguarding your online accounts. It strikes a balance between security and convenience, making it a better option than less secure alternatives.
If you want to elevate your business' security then get in touch with our Edinburgh based experts who can help you protect you data.