81% Of Data Breaches Are Due To Poor Password Management – Is Your Business At Risk?

According to the latest Verizon Security Report, it turns out that 81% of all data breaches are brought to you by the fine art of poor password management. Most attacks target an organisation’s user credentials. Much like leaving your car keys right in the ignition, passwords that aren’t kept securely could put you at risk. 

Tech and digital teams are the centre of these issues. With a growing number of connected systems they work with and wrangle, they’re drowning in credentials. There are often hundreds – sometimes thousands – of credentials to manage. Without the right tools, this leads to problems with productivity and security.

Quiz:  Is Your Business At Risk?

Much like Cosmo or Femme Actuelle, we’ve made a quiz. Except this one tells you less about what zodiac signs you’re compatible with and more about how risky your password management habits are.

Starting at 50 points, each question deducts points based on your answer.

1: Do you use unique passwords for all of your logins? If not, deduct 6 points.

Using the same password for multiple accounts is the digital equivalent of making hundreds of copies of your house key and handing them out to every stranger on the street. You’re putting all of your accounts at risk, if a single account is compromised. 

2: Do you use passwords that are hard to guess? If not, deduct 3 points.

Your passwords should be harder to crack than the Fort Knox Titan (apparently the hardest safe to craft). Having strong passwords acts as a digital body guard against brute force or dictionary attacks. Using passphrases and special characters is a good way to bulk them up.

3: Has your password been part of a data leak? If yes or you don’t know, deduct 9 points.

If you’re still using a compromised password, you must be an adrenaline junky. You’re playing a dangerous game. But, maybe find your adrenaline rush somewhere else? Check your passwords and, seriously, stop using passwords that have been exposed in breaches. 

4: Do you store passwords on a secure system? If not, deduct 8 points. 

Think of passwords as one of your prized possessions, like a collectible action figure, rare comic, your kids’ artworks, or pet rock from the 80s. Haphazard storage can put your valuables at risk. Use a secure password manager to keep your credentials untouchable. 

5: Has your password manager been breached? If yes or you don’t know, deduct 6 points.

It’s the wild west out there! Norton LifeLock, LastPass, Passwordstate – They’ve all had their moments of “oops we’ve been breached!” And that’s not even counting the one’s security researchers have poked holes into. Have you given your password manager a second thought lately?

6: Does your password manager have anti-phishing measures? If not, deduct 6 points.

Phishing has come a long way since the days when a Nigerian prince asked you to help him recover his fortune. Today, phishing attacks have become much more sophisticated. Any reliable password manager should have measures in place to prevent the most common phishing attempts that are used by cyber attackers.

7: Do you share passwords in an unsafe way? If yes, deduct 5 points. 

Everyone’s parents probably told them “sharing is caring” and they weren’t necessarily wrong. But, with all things, especially passwords, sharing should be done safely. Vulnerabilities can be created by sharing passwords without proper security. 

8: Does your team keep secrets securely? If not, deduct 6 points. 

Does your family have a secret recipe? You wouldn’t just give it out to the world. Your secrets deserve the same level of protection. To avoid the risk of data breaches or potential attacks, keep all your sensitive information in a safe place.

9: Do you use an EU-Based password manager? If not, deduct 4 points.

EU-based software comes with built-in data protection and GDPR compliance, and you get to support semi-local businesses – it’s a win-win-win! Using a password manager that’s based in the EU just makes good sense.

How’d you fare?

0 – 20 Points

Yikes! Your password habits need a serious makeover. It’s time to tighten up your cybersecurity. You’ve got some homework to do. Make improvements to keep your online accounts safe and secure.

20 – 47 Points

You’re getting somewhere, but there’s still room for improvement. You can step up your password game – your sanity and security will thank you later. Keep forging ahead, you’ll get there soon!

50 Points

Impressive! Commendable cybersecurity game. But, don’t forget: the digital security battlefield is constantly changing. Stay vigilant and make sure you stay up to date with the latest trends.

Passbolt: The Password Management Platform Made In Luxembourg

Established & Operating In Luxembourg Since 2016

Passbolt started right here in Luxembourg, at the Technoport incubator, as a participant in the Fit4Start acceleration programme! Today, passbolt’s grown to a global team of over 30 and has an office based in Belvaux. It’s used by thousands of companies around the world and helps a wide variety of industries, some include: government, defence agencies, non-profit, marketing, education, logistics, manufacturing, and businesses of all sizes. In fact, there are hundreds of Luxembourg-based companies that use passbolt.

Focused On Teams & Secure Collaboration

Modern teams need to collaborate effectively without sacrificing security. Passbolt is designed specifically with this in mind – Powerful sharing, full traceability, and robust user activity reporting (incredibly useful for regulated industries). All these features and more are protected by security based on a secret key known only to the user. Users also benefit from 100% data privacy and data sovereignty.

Giving Back: Special Offer For Luxembourg Businesses & Organisations

To support businesses in Luxembourg, passbolt’s offering 50% off for all Luxembourg businesses, startups, and organisations, valid for up to 10 users.

This offer from passbolt helps ensure that Luxembourg-based enterprises can fortify their security without breaking the bank. The promotion covers both of passbolt’s paid versions: Pro – A self-hosted solution managed by you and your team or Cloud – a solution fully managed and hosted by passbolt.

Security is a never-ending battle. What better weapon to have on your side than an open source password management platform based in Luxembourg? Passbolt facilitates secure and private collaboration for your team, giving you the peace of mind you deserve. Together, let’s unlock your business’s digital security and navigate threats, one secure step at a time. Visit the passbolt website to learn more or to claim your offer using the code: GIVINGBACKTOLUX (valid until end of October). If you have any questions or need help, feel free to reach out to the team.

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