Passwords are indispensable in this modern world.
Some corporations area unit making hypes to kill passwords permanently.
They are recommending customers go passwordless. They are toying with the idea of "always logged in" and referring to it as "passwordless."
In simple words, some companies are provoking you to keep your authentication credentials saved on your devices. If your devices are stolen, and the screen lock passwords are removed, all your "passwordless" online accounts are in the hands of the device stealers.
That is how your authentication credentials of multiple online accounts, which are saved on your mobile device, say for your cryptocurrency exchange, or wallets, are vulnerable to being stolen/lost with your mobile device.
Today, I will share with you a simple yet very robust technique to safeguard multiple accounts without paying a single penny on any software, such as password manager, or any paid cloud security services, which are prone to more hacking attacks.
Why are password managers prone to hacking?
A Password is a text stream that is set with a Username to authenticate the person logs in to a computer or server. The more complex and lengthier the password text stream, the stronger the password is.
Password managers are software that can provide you with facilities to create many complex passwords for multiple accounts. All generated passwords are protected by a single password called the master password.
There are both offline and online password managers. The online password managers provide server-based services to manage multiple passwords with a master password. The offline password managers are software installable on users' computers for creating and managing passwords.
In whatever its form, the security of a password manager is solely dependent on the master password which is prone to an easy attack called single point of failure
- If hackers can steal the master password, all the authentication credentials of the users are in the hands of the hacker. Thus, the users will lose access to all of their cyber accounts.
Therefore, password managers can NOT provide you with the security you need.
Know how traditional password security systems function
Before starting with the security solution, let us understand in simple words how a password security system works on a computer or a server. I share a screenshot from one of my tutorial presentations on everyday cybersecurity.
Thank you for sparing some time with this, until the next one!
