83% of people have admitted to reusing passwords across multiple sites.
Fortinet reminded IT teams and stakeholders to maintain strong passwords and have a password strategy as an essential cybersecurity effort so that every employee and individual plays a crucial part in protecting corporate data.
According to the Verizon Data Breach Investigations Report, 81% of breaches leveraged either stolen and/or weak passwords. That problem is compounded because one of the biggest risks to data security is the reuse of passwords across accounts. If one of the accounts is compromised and your user name and password are posted on the dark web, cybercriminals who know how often passwords are reused will simply begin to plug that information into other possible accounts until they unlock one that uses the exact same credentials.
This is a common risk, as 83% of people have admitted to reusing passwords across multiple sites. Even if it is safe to reuse passwords on accounts that don’t house sensitive data – a breach there can be used as an entryway to move laterally across networks in search of critical business data or personally identifiable information (PII).
“Cyber adversaries are constantly tweaking their tradecraft to ensure successful intrusions in order to generate consistent revenue and profit. If your password is guessed or stolen, you may never know it happened until anomalous purchases appear in your bank account. And even more challenging data accessed by leveraging your compromised account may simply be used to move up the chain.” Said Rajesh Maurya, Regional Vice President, India & SAARC, Fortinet “Implementing a strong passphrase is one of the easiest ways to protect yourself, your devices, personal and corporate data from cyber threats. The basic rule of thumb is, the longer and more complex the password, the more difficult it is to crack”
- Add an extra layer of security, use multi-factor authentication wherever possible. This confirms your identity by utilizing a combination of multiple different factors, such as something you know or something they have, such as a token generator on your smartphone.
- Never repeat the same password for different accounts.
- Change your passphrase at least every three months. This will lock out cybercriminals who may be using your account, protect you from brute force attacks, and remedy the issue caused by cybercriminals who purchase lists of usernames and passwords obtained through data breaches.
- Ensure no one is watching as you enter passwords.
- Be cautious when downloading files from the internet as they may contain key loggers as well as password grabber malware variants that will compromise your password. A good practice is to regularly scan for the presence of such malware.
- Use a cloud-based password manager to enable you to create and store strong passphrases. This is especially important if you require strong passwords for dozens of accounts. Password management tools allow you to securely store an encrypted list of passwords in the cloud that can be accessed from any device. Not only will you only need to remember one password to access your password locker, the passwords you store there for your various accounts can be even stronger because you don’t have to remember them.