Protecting Your Passwords This Season – Best Password Practices To Implement Today

Password manager LastPass has announced they are investigating a security incident after an “unauthorized party” compromised its systems on Wednesday and gained access to some customer information. You may recall LastPass fell victim to a breach back in August of 2022, when hackers were able to gain access to a developer’s system. 

LastPass has confirmed that although an unauthorized party was able to gain access to certain elements of customers’ information, passwords remain safe due to their encryption and zero-knowledge architecture.

LastPass has shared that they are continuing to deploy enhanced security measures and monitoring across their infrastructure to help detect and prevent further threat actor activity.

So, how can you take this information and ensure your passwords are protected?

Invest in a Password Manager

A password manager is a software application that helps users securely store all their digital passwords, notes, bank account information, credit card numbers, etc. in one secure password vault. This password manager generally requires a master password to access the password store, helping to keep all information safe and secure from hackers.

The benefits of using a password manager include allowing users to create complex and unique passwords for different accounts without having to remember them. Password managers also generate strong passwords, which is key for password security. Even with the news of LastPass, password managers continue to be one of the most secure tools on the market to ensure passwords are secure.

Implement Multi-Factor Authentication

Password managers are just one tool to help keep your accounts safe, but there are some best practices you should also follow. These include using strong passwords, not repeating passwords, and enabling multi-factor authentication on all accounts. Multi-factor authentication is any process that requires more than one method of authentication to verify the identity of the user. 

Nexus IT’s CEO, Earl Foote, recommends taking this added layer of security one step further by enabling three-factor authentication. Three-factor is best described as the following:

  • Something you know – this being your password
  • Something you have- your phone or email where an authentication code will often be sent
  • Something you are – this is biometric authentication which can either be an iris or fingerprint

A password manager combined with multi-factor authentication can help secure your passwords and protect against password theft. Earl was recently interviewed by Mountain Money where he discussed what the breach means for users and recommendations for keeping your digital information safe. You can listen to Earl’s interview here

Are Passwords Going Away Anytime Soon?

The short answer is no, passwords are not going away anytime soon. With new technology, passwordless authentication tools such as biometric logins will continue to make the password process easier, but passwords are here to stay—for now.

Protecting Your Smart Home and IoT Devices

Smart homes and IoT devices can be vulnerable to hackers if you don’t protect them with strong password security. When setting up your password, best practices include:

  • Use strong passwords (8 characters or more)
  • Avoid using the same password for multiple devices
  • Don’t use default password settings
  • Enable two-factor authentication whenever possible
  • Update passwords on a quarterly basis on all connected smart devices

Following these password security tips with your IoT devices can reduce the risk of a hacker accessing your personal information.

Stay Secure This Holiday Season

Password security continues to be an important factor in your digital security toolkit. Whether you use a password manager or multi-factor authentication, using these tools will help keep your digital information safe and secure from hackers. Implementing password security strategies for both password managers and smart devices should become part of our digital safety routine. Using password best practices will help keep your devices and personal information safe from cyber threats.

Nexus IT provides password security and multi-factor authentication solutions for both password managers and IoT devices. As a trusted partner, Nexus IT can provide the necessary password management tools to ensure your accounts are secure from cyber threats. With our expert team of IT specialists, Nexus IT can help you stay safe online this holiday season. Schedule a consultation with us today!