Cyber tip #2: use a password manager

A password manager is effectively a secure, digital vault where you can store and access numerous secure passwords in one place.

So you’ll only need to remember one long, complex, unique ‘master’ password to unlock and use all the passwords you keep in there.

Once you're logged in, a password manager can automatically fill in your login details for websites and apps, saving you time and stress while also reducing the risk of being hacked. 

Security is the main reason to consider using a password manager. If you re-use a password across accounts, having one account hacked could mean your other accounts are exposed as well. 

A password manager can also help you create strong, unique passwords for multiple accounts without your needing to remember them all.

Some will let you know when one of your accounts may have been compromised. 

It can also help to protect you from phishing scams. For example, if you land on a fake website, your password manager will know not to autofill your login details – because it knows the address of the fake website doesn’t match the one it’s purporting to be.

Using a reputable password manager is likely to be much safer than relying on memory, spreadsheets, or sticky notes.

Password managers use strong encryption to protect your data, and many offer multi-factor authentication (MFA) for extra security.

That means that even if someone figured out your master password, they would still need a second code (usually sent to your mobile phone) to be able to log in.

One thing to note: some service providers, such as banks, may not cover losses if you store your banking password in a password manager, so it may be worth memorising a separate, unique password for your bank accounts. 

Some of the things to look for when choosing a password manager include:

• Strong encryption: AES-256 provides robust security features.
• Cross-device syncing: this will allow you to access your passwords on your phone, tablet, and computer.
• Multi-factor authentication: this is a way of verifying your identity through multiple methods, which may include something you know (like a password), something you have (like a phone or hardware token) and something you are (like a fingerprint or facial recognition).
• A solid reputation: some password managers have been hacked in the past, so make sure you do your research and find one with a good record. 
• Transparent privacy practices.

Start by downloading a trusted password manager and setting up your master password.

You may need to pay for this service, but cost-effective options are available, and many offer family plans.

Your password manager will be able to help you import or create strong, unique passwords for your accounts.

Remember – even if you have a password manager, it’s still important to keep changing your important passwords often. And if any have been exposed in a data breach, change them immediately.

Oh – and never tell anyone your master password!

Our Staying safe online hub has more on how to keep your accounts and personal information safe as well as information on the latest scams. And don’t forget to log in to your account or download the app to update your password or check your balance.