Using Your Password Manager’s “Master Password” On Other Online Accounts?

What happens if you ask a representative sampling of 1,047 online American adults about:

1.) Their experience with cybercrime

2.) Their methods of password tracking, and

3.) Their opinions on password manager applications

From the Security.org Password Manager Industry Report and Market Outlook (2023-2024):

➡️​ Only 20% of adult Americans use password managers.

➡️​ About 33% still track their passwords by memorization or hand-written notes.

➡️​ Non users of password managers were three times more likely to experience identity theft.

➡️​ The riskiest password practice proved to be reusing basic passwords across multiple accounts: 50% of those who rely on this method had their credentials stolen in the past year, up from 35% in 2021.

⛔​ Nearly half of password manager users who had their identities stolen used their “master password” for other online accounts. This is an extremely risky practice that should be avoided to protect personal data online, and unfortunately, we discovered this habit has increased slightly over the past year.

➡️​ 23% use Google Password Manager

➡️​ 17% use iCloud Keychain

➡️​ Password manager subscribers are twice as likely to consider them safe and secure as non-users.

➡️​ Of those open to considering a password manager, 39% had their ID stolen during the past year. Only half as many (20%) were victims among those eschewing vault use. This split indicates that difficult lessons may be the best motivator – password managers gain appeal after a breach.

Hopefully, more consumers will act preemptively on good information instead of remedially after a bad experience.

Link to Security.org’s Password Manager Industry Report and Market Outlook (2023-2024) below:

https://www.security.org/digital-safety/password-manager-annual-report/

— Anthony Collette

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