The Changing Workplace

The Risks of Passwords & Why You Should Get Rid of Them

Intro

Computer passwords were first introduced in the early 1960’s. Passwords keep personal information personal. And from the first passwords to today, passwords have been a source of vulnerability. According to Microsoft, the user and their password are the weakest links in security systems. And, the average office worker in the US must keep track of 20-40 password combinations. Passwords are too hard for users to remember. Or, they’re too easy and vulnerable to black-hat operators.

Risks of Passwords

The core problem with passwords is they live on a server, increasing the likelihood of theft. Additionally, black-hat entities can impersonate a user quite effortlessly. Impersonation happens by phishing credentials or buying credentials off dark web. It’s difficult to know when a password’s been stolen.

·       The common 8-character password takes less than a second to break

·       29% of breaches involved use of stolen credentials

·       32% of breaches involved phishing

·       In 2019, more than 2.2 billion usernames and passwords were compiled and laid out for hackers to use

·       56% of breaches took months or longer to discover

·       The average cost of a data breach in the US is $8.19 million

·       The average cost to for a helpdesk to reset a password is between $40-50

·       The average employee requests helpdesk support to reset a password 6-10 times a year.

 

Reasons to Ditch Passwords

Single-sign on (SSO) is one of many methods to ditch passwords. We looked at many methods to protect our 20k active WebCoRE users. In the end, we felt SSO struck the best balance between ease-of-use and security.

User Benefits:

  • Reduce password fatigue from different username and password combinations
  • Reduce time spent re-entering passwords for the same identity

Organization Benefits:

  • Reduce IT costs due to lower number of IT help desk calls about passwords
  • Lessens the chance of phishing

We’ve helped clients save $7.2 million annually by implementing SSO. Still not convinced? Check out the infographic below.

 

Infographic

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