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Passwords are essential to protect the device and the confidential data on it from unauthorized access. Do Small Business Owners Create Secure Passwords? Read the latest password statistics below.
We collect key password statistics to help you understand your password security posture. Viewing these password statistics will help you plan for strong password management in your company.
Let’s dig deeper:
Why is password management important for small businesses?
Here are the key reasons why you should care about passwords to manage your business:
- Users tend to follow bad password habits and avoid creating strong passwords
- Password Management allows you to monitor compliance and check for presence on the dark web with your company Related compromised credentials
- You can easily log password resets with a password manager
- Password management can save you time and money that you would otherwise spend on losing passwords
Easy to do if you use a password manager Multi-Factor Authentication (MFA)
Poor password security can lead to data breaches or other cyber incidents.
Using a password manager will make handling passwords easy and implement good password management practices at your company.
Password reuse statistics
If you reuse passwords frequently, you should stop doing so immediately. And change your password regularly to strengthen the cybersecurity of your business.
The following password security statistics will help you understand the state of password reuse.
1. A Google survey reported that 65 % of people reuse the same password for multiple accounts or all accounts.
2. Even if reused passwords pose a security threat, Employees also reuse passwords 13 times. Using a good password manager can quickly solve this problem.
Do you want to know why people reuse their passwords?
The following statistics from the Password Psychology Report will help you understand:
3. Remembering all your passwords is a daunting task. So it’s no surprise that 68% of people who reuse passwords are afraid of forgetting them
4. People want to be in control of all their passwords, which is why 52% prefer to reuse passwords
5. Of those who reused passwords, 36% felt that their account was not worth enough to get a hacker’s attention
6. People use the same for multiple accounts despite being aware of the risks password. The same report states that 92% understand the risks of using the same password or its variants
Password theft statistics
7. If you want to create strong work or personal passwords, you should use at least 12 in your password character password. This is because it takes 62 trillion times longer to crack a complex 12-character password than a 6-character password created with lowercase letters.
8 . Creating strong passwords for multiple online accounts is very difficult , not to mention remembering those passwords. So people use common passwords. In fact, 73% of online accounts are protected by duplicate passwords. And more than half are unfamiliar with two-factor authentication.
9. Password Dump Malware Attack Copy and Steal Save password. 40% of malware-related breaches are caused by password-dump malware
Strong passwords protect your work and personal accounts from unauthorized access. But people still don’t have proper security measures in place to keep data safe.
The following password security statistics collected from Google surveys will help you understand how user behavior weakens password security:
10. Sharing passwords with others is a bad practice. However, 43% of Americans still share their passwords with others.
11. Although two-factor authentication improves password-protected accounts security, but only 37% of Americans use two-factor authentication
12. Easy-to-guess generic passwords leave professional and personal accounts vulnerable. 27% of people have tried to guess someone else’s password, and 17% got it right.
Two-Factor Authentication Statistics
Here are the key findings of the Authorization Status Report prepared by Duo:
13. 79% of employed professionals use two-factor authentication (2FA) ). 60% of self-employed use 2FA
14. SMS ( 85%) was the second most commonly used factor, followed by email (74%) and mobile passwords (44%)
This is a 2FA statistic from the State of Password and Authentication Security Behavior report Data:
15. The mobile authenticator app is a quick , an easy way to authenticate users. 37% of companies using two-factor authentication rely on mobile authentication applications.
16. 65% of users believe that using biometric authentication will make their accounts more secure.
17. Technology and software companies most likely to use two-factor Authentication.
Weak Password Statistics
The following weak password statistics from the Avast survey will encourage you to implement a strong password policy in your company:
18. 83% of Americans use weak passwords. 16% use their own name or the name of a family member as a password
19. Surprisingly, people don’t change their passwords even after account security is compromised. Only 23% would change their passwords after learning of a data breach. There are a variety of similar tools that can check if your passwords appear in any data breaches.
20. Cybersecurity experts recommend that people should change their passwords regularly. But only 20% of Americans frequently change their passwords every three months. 18% never change their passwords.
Password Security and Cybercrime Statistics
Here are the basic business password statistics from the Keeper survey:
21. When it comes to saving work passwords, many employees still rely on post-it notes. In fact, 57% of employees use sticky notes to manage work passwords.
22. Saving working passwords in plain text is another bad Habit, 49% of employees still do it.
23. Share passwords with other employees via email or text message will weaken network security. However, 62% of employees share their work passwords via email or text message.
24. Disabling accounts of former employees should be IT department one of the first tasks. That’s because 32% of employees have access to online accounts belonging to previous employers, meaning many companies don’t disable accounts when employers leave the company.
25. Sharing work passwords with family can make unauthorized of people accessing the data. 11% of employees share work-related passwords with family members. So you should have strict rules about password sharing.
Password Manager Statistics
A good password manager app can help create, save, pass multi-factor authentication and local Data encryption Share and manage passwords securely. However, internet users are still not taking advantage of this powerful tool to improve online safety.
Here are the key password manager statistics from a survey conducted by Security.org:
26. 71% of people don’t use a password manager because they don’t trust a password manager to be secure.
27. Only 20% of people use a password manager to manage or store their online account passwords. LastPass is the most popular manager, followed by Keeper security and McAfee True.
28. 71% of people use a password manager because They don’t remember their password
29. Encryption provides additional security layer. 34% use a password manager because it allows them to encrypt saved passwords
30. To access your login credentials on the Password Manager app, you need to create a strong master password. 81% have created unique master passwords, but 19% are still recycling their master passwords.
31. All good password managers allow users to Sync passwords across multiple devices. Mobile devices provide ease of use. So it’s no surprise that 77% use a mobile device to access their password manager app, and 75% use a laptop/desktop computer to access their password manager app.
32. 69% would consider in the future Use a password manager app for online accounts
33. 59% of companies rely on human memory to manage passwords. When people rely on memory to remember passwords, they are likely to create common passwords that are easy to crack.
What is the percentage of data breaches caused by passwords?
According to the Verizon report, 80% of hacking-related breaches are caused by password-related issues (brute force or use of lost/stolen credentials).
According to a survey done by Avast, 83% of Americans use weak passwords?
83% of Americans use weak passwords. To create a strong password, you must include special characters, numbers, and uppercase and lowercase letters. Also, you should create passwords that are at least ten characters long.
How many people use the same password for everything?
According to a Google survey, 13% of people use the same password for everything. 52% use the same password for multiple (but not all) online accounts.
What percentage of people use “password” as their password ord?
According to a Google poll, 24 % of US users use password, 123456 or admin as their password. It’s easy for people to remember it with a generic password.
How are most passwords stolen?
Phishing is the most commonly used password-stealing technique. Other common methods hackers use to steal passwords are social engineering, malware, brute force, keystroke logging, and credential stuffing.
Final thoughts
Now you know the latest password statistics. It’s time to revisit your password policy. Make sure your company’s average password is longer than ten characters and that all your employees use multi-factor authentication. Using a good password manager can make password management easier for your company.
What are you waiting for? Proceed to the next step based on these latest password statistics.
Photo: Envato Elements
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