Secure Your Company: The Importance of a Strong Password Strategy
Jessica Doering

February 23, 2024

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3

 min reading time

Why your company needs a strong password strategy!

“12345678”, “mom1964” or “my_cat_is_better_than_yours” - classic passwords… 

Oh, six months have passed, time to change. Of course, one only "wants" to change it because some window pops up and warns that the current password is about to expire. And then what happens? "mycomputer1" becomes my “computer12"...

Oh, “I need a special character now, too... hm... okay computer_12". Done. 

And then "best" with the company computer, because you spend half the day with it anyway.

- It's only for a short time… (note: as if it would take a hacker a month to sneak data) 

- I have to be able to remember the password, bc “who knows the birth year of my mom” (proud face)

- Besides 1 out of a million!

- The belief that no one is interested in web browser histories and pictures from the last "Australia vacation"

- It's more likely that the "super-tech" employees are hacked instead of me as a small employee... (“hehe”, again proud face)

Hundreds of silly reasons to get away with this topic.... 

Error!

In today's digital age, passwords are one of the most important ways to protect sensitive information. However, passwords can be easily compromised if they are not managed properly. This is why every company needs to have a password strategy and tools to ensure that their data and systems are secure.

What is a password strategy?

A password strategy is a set of guidelines and best practices that a company follows to ensure that its employees use strong and secure passwords. 

A good password strategy should include the following elements:

  • Password complexity: Passwords should be complex and difficult to guess. They should be at least 8 characters long and include a mix of upper and lower case letters, numbers, and special characters.

  • Password expiration: Passwords should be changed regularly, typically every 90 days. This helps prevent unauthorized access to sensitive information.

  • Two-factor authentication: Two-factor authentication is an additional layer of security that requires users to provide two forms of authentication, such as a password and a code sent to their phone or email, before they can access sensitive information.

  • Password management: Passwords should be managed centrally by an IT team to ensure that they are secure and that employees are following the company's password policy.

Why is a password strategy important?

A password strategy is important for multiple reasons:

  • Security: A password strategy helps ensure that passwords are strong and secure, which reduces the risk of data breaches and other security incidents.

  • Compliance: Many industries, such as healthcare and finance, have strict regulations that require companies to have a password strategy in place.

  • Productivity: A password strategy can help employees be more productive by reducing the number of times they need to reset their passwords.

What are password tools?

Password tools are software programs that help companies manage their passwords more effectively. 

There are several different types of password tools:

  • Password managers: Password managers are software programs that store all of a user's passwords in an encrypted database. This makes it easy for users to create strong passwords and store them securely.

  • Password generators: Password generators are software programs that create strong, random passwords for users. This helps ensure that passwords are complex and difficult to guess.

  • Single sign-on (SSO): SSO is a technology that allows users to access multiple applications and services with a single set of login credentials. This helps simplify the login process and improves security by reducing the number of passwords users need to remember.

  • Multi-factor authentication (MFA): MFA is an additional layer of security that requires users to provide two or more forms of authentication, such as a password and a fingerprint scan or facial recognition, before they can access sensitive information.

Why do companies need password tools?

Companies need password tools for several reasons:

  • Security: Password tools help companies manage passwords more effectively, which reduces the risk of data breaches and other security incidents.

  • Compliance: Many industries, such as healthcare and finance, have strict regulations that require companies to use password tools to manage their passwords.

  • Productivity: Password tools can help employees be more productive by reducing the amount of time they spend resetting their passwords.

In summary, every organization must have a password strategy and tools in place to ensure the security of its data and systems. This is not just a little "well, okay" but a fundamental issue that needs to be addressed in the enterprise! 

A password strategy should include policies for password complexity, expiration, two-factor authentication and password management. Password tools such as password managers, generators, SSO and MFA can help organizations manage their passwords more effectively and reduce the risk of data breaches and other security incidents. 

By implementing a strong password strategy and using password tools, companies can protect their sensitive data and maintain the security of their business. 

A security standard like ISO 27001 covers this right along with it, so it's best to implement absolute all-around protection right away, and then you'll also get your "computer123"- employees on board with the company - because under no circumstances should this go down due to improper operation. 

And finally, a glimpse into the near future, or rather the present. 

The industry is moving more and more to cross-device passkeys. 

A trend in the technology industry where traditional password-based authentication is being replaced by passkeys or other forms of more secure multi factor authentication that can be used on multiple devices. 

This development aims to improve security by reducing the risk of password theft, as passkeys are typically harder to crack than passwords. In addition, passkeys can be used on multiple devices, making authentication more convenient for users. 

Stay tuned.

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Jessica Doering

Jess is the marketing mind at Secfix. She loves every dog on this planet and is especially open-minded for any future-oriented inspiring humans and things that cross her path.

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