How to Store Passwords Safely for Your Business

how to store passwords safely for business

A whopping 81% of hacking-related breaches relied on stolen or weak passwords to gain access.

Passwords are the front-line of defense for your business. But managing passwords (whether for your business or having a policy in place for employees) is difficult.

We all know that we should have a unique password for each login.

But, if you are like most people, the number of passwords you need to keep track of can jump into the triple digits.

Read on to learn how to protect passwords and how to store passwords safely. 

The Wrong Way To Store Your Passwords

Before we talk about how to keep passwords safe, let's talk about what you shouldn't do to store your passwords.

Notebook or Pad of Paper

You might think that your desk drawer is safe against cybercriminals. But what if someone broke into your home and took this paper? They would have access to everything from your online banking to social media accounts and email. 

They could quickly lock you out of your accounts before you noticed.

On Your Phone or Computer

Having a file with your passwords (or worse, your credit card numbers) is one of the un-safest ways to store your passwords.

If you ever leave your phone unattended or lost it, that information would be quickly compromised. Or, if someone was able to hack into your phone, they would gain access to all that.

Read more about data breaches and how you can protect yourself. 

On Your Internet Browser

It's so tempting to let your browser remember your passwords. 

But, while it seems safe, this is not a great method of keeping your passwords safe. Especially if you use a shared computer with other people.

Now, let's talk about how you should store your passwords. 

Safest Way to Store Passwords

So how to store passwords safely?

The only reliable way to store your passwords is by using a professional password manager.

This software securely keeps your passwords so you don't have to remember all of them. All you need is the remember your master password to get into your account.

Password managers are online tools so you can access your passwords remotely, wherever you are. 

Plus, most password managers will generate unique and random passwords for you so that you can choose these for all your accounts. As you won't be needed to remember these passwords, it's no problem if the passwords are 14-characters long and a combination of upper and lower-case letters, numbers and symbols.

Use Two-Factor Authentication

One of the best ways to protect yourself and your business from unauthorized access is to use two-factor authentication.

Basically, this adds a second layer of protection to your password to ensure that it is really you trying to get into your account.

After you input your password, you might have to add in an additional PIN or pattern. Or you might have to enter a unique authentication code sent to your email or mobile device.

You might also use biometric forms of authentication, such as your fingerprint, your voice, or your face. 

With a password manager and two-factor authentication, you can breathe easy knowing that your sensitive information is safe. 

You can also set this up so that all employees must use two-factor authentication to log in to your systems.

Final Thoughts on How to Store Passwords Safely

Thanks for reading our guide on how to store passwords safely for your company. We hope this guide on how to store passwords safely for your business has helped you learn what you need to do next to protect company data.

Now that you know how to store password safely, make sure to come back again soon for more great content for your business. Visit the Tech section to learn more about cybersecurity and data protection.

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