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Financial Wellness

Beef Up Your Security—Use a Password Manager

As our lives expand while we do more online, we've gone from having just a couple of passwords; to today, where we might manage upwards of 100 or more. If you're like most people, you're probably using the same password for most of your accounts—and that's not safe. If your one password gets stolen because of a breach, it can be used to gain access to all your accounts and your sensitive information.

But no need to fret, password managers are easy to use and make a big difference.

Easily manage all your passwords.
The best way to manage unique passwords for the ever-increasing amount of online accounts we own is through a password manager application. A password manager is software created to manage all your online credentials like usernames and passwords. It stores them in a safe, encrypted database and also generates new passwords when needed.

Because the password manager stores all your passwords, you don't need to memorize hundreds of passwords or keep that secret password paper in your drawer. Now, you only need to remember one to unlock your password vault in the manager app, so it makes things so much easier.

What are the advantages of a password manager?
Password managers not only let you manage hundreds of unique passwords for your online accounts, but some of the services also offer other advantages as well.

  • Saves time
  • Protects your identity
  • Works across all your devices and operating systems
  • Notifies you of potential phishing websites

Add this step.
In addition to using a password manager, make sure to enable multi-factor authentication (MFA) as an additional layer of protection. MFA makes it more difficult for someone to break into your software, especially if someone else learns your password manager's single master password.

Resources: The National Cyber Security Alliance, PCMag

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