Financial Wellness
Debunking Myths About Your Passwords
The 2025 theme of Cybersecurity Awareness Month, "Stay Safe Online," emphasizes practical actions: using strong passwords, turning on multifactor authentication, updating software regularly, and adopting a reliable password manager. These small steps can significantly lower cybersecurity risks and foster a resilient digital culture.
High-quality password managers are the safest way to store your passwords and ensure that you use strong, unique passwords for your accounts.
But there are many misconceptions about password managers, so we'll help you separate fact from fiction.
Myth: Don't use a password manager because all your passwords are compromised if it gets hacked.
Reality: Thanks to the technology password managers use, the company doesn't even know your master password, so make it a long and unique password! And when you turn on multi-factor authentication (MFA) for your password manager, it's even more secure. Even when a password manager company gets hacked, cybercriminals can't access your passwords.
Myth: My spreadsheet, notes app, or notebook is safer than a password manager.
Reality: No other method of storing passwords is as safe as a password manager because of their encryption. Physical notebooks and sticky notes can be lost, damaged, or stolen. Password managers also let you create long, complex, and unique passwords easily for every online account. With other methods, you'll likely reuse passwords or depend on short, less random ones.
High-quality password managers are the safest way to store your passwords and ensure that you use strong, unique passwords for your accounts.
But there are many misconceptions about password managers, so we'll help you separate fact from fiction.
Myth: Don't use a password manager because all your passwords are compromised if it gets hacked.
Reality: Thanks to the technology password managers use, the company doesn't even know your master password, so make it a long and unique password! And when you turn on multi-factor authentication (MFA) for your password manager, it's even more secure. Even when a password manager company gets hacked, cybercriminals can't access your passwords.
Myth: My spreadsheet, notes app, or notebook is safer than a password manager.
Reality: No other method of storing passwords is as safe as a password manager because of their encryption. Physical notebooks and sticky notes can be lost, damaged, or stolen. Password managers also let you create long, complex, and unique passwords easily for every online account. With other methods, you'll likely reuse passwords or depend on short, less random ones.
Bonus Tip: Every password needs to be 14-16 characters!
This one is not a myth and is necessary for top security. It is significantly harder for hacker software to crack a longer character password, even if it is only letters. A password length of 14-16 characters, when combined with MFA, provides robust security.
Complex, random passwords are fantastic, but they need to be long. How the heck am I supposed to remember all these long passwords? Use a password manager!
Complex, random passwords are fantastic, but they need to be long. How the heck am I supposed to remember all these long passwords? Use a password manager!
Myth: Password managers are expensive and hard to use.
Reality: The leading password manager brands all have free versions, and they have the same security features as the paid versions. Once you start using a password manager as a web browser extension, you'll see how simple it is to incorporate into your web surfing.
Myth: My workplace won't let me use a password manager.
Reality: Many workplaces use password managers now—ask your security or IT team what they recommend. Even if your workplace doesn't have a password manager, you should definitely use one for your personal accounts.
Research your password manager options, install one you like, and add a few passwords at a time. The program will help you change weaker passwords and create great passwords for new accounts.
Take a few minutes today and get started—your online safety is worth it!
Reality: The leading password manager brands all have free versions, and they have the same security features as the paid versions. Once you start using a password manager as a web browser extension, you'll see how simple it is to incorporate into your web surfing.
Myth: My workplace won't let me use a password manager.
Reality: Many workplaces use password managers now—ask your security or IT team what they recommend. Even if your workplace doesn't have a password manager, you should definitely use one for your personal accounts.
Research your password manager options, install one you like, and add a few passwords at a time. The program will help you change weaker passwords and create great passwords for new accounts.
Take a few minutes today and get started—your online safety is worth it!
Resources: StaySafeOnline, The National Cyber Security Alliance
