Password managers are one of the most powerful defenses against breaches, which can cause massive damage and be incredibly expensive to mitigate. According to the Ponemon Institutes’ 2019 Password and Authentication Security Behaviors Report, 51% of respondents experienced a phishing attack in their personal life and 44% experienced a phishing attack while at work.
Shockingly, 57% of these victims did not change their password behaviors. That’s why every company, regardless of size, should consider implementing a password manager to ensure company security.
When businesses invest in a password manager, they are encouraging employees to practice healthy password habits and easing the process of securely sharing passwords. It is much less costly to prevent data breaches by layering security measures with tools such as a password manager and SSO solution than it is to clean up after one occurs.