Latest facts and statistics about password management
Despite the fact that modern humanity is concerned about the problems of quantum computers and flights to Mars, cyber hygiene and literacy in managing passwords and sensitive information still remain at a level far from even satisfactory.
Let’s dip into the statistics that illustrate this notorious situation:
Globally, one-third of people reuse their passwords across about 5-10 websites, which still doesn’t help because one-fourth of users need to reset their passwords multiple times a week. Moreover, half of the respondents use the same passwords for personal and work accounts.
Only one-third of surveyed ones use a password manager and only one-quarter of interviewees use a password manager at work. These are unexpected figures, as it turns out that companies, on average, care less about the safety of their sensitive information than individuals. This confirms the fact that two-thirds of those surveyed believe that a company should provide employees with a password manager. If we compare the situation with the use of password managers, in Germany almost every third person uses these applications, in Switzerland every fourth person uses them.
The encouraging statistic is that most people are aware of the best practices for password management and multi-factor authentication.
Still, more than 70% of respondents don’t use password managers due to distrust of their security, and half of the respondents doubt whether they need a password manager or simply don’t know how it works.
What about business?
About half of surveyed SMBs already have password management place and one-third of them are currently evaluating password management tools.
Furthermore, organizations with a staff of up to 100 people are more likely to show interest in password management. Also, companies from the IT industry show a high interest in password management tools. Business password management solutions are gaining the most popularity in Germany, the United Kingdom and France.
Most likely, this is due to the fact that password managers are the most affordable alternative to identity and access management solutions on the market. And the transition to advanced password management is an important step towards cybersecurity.
What is the conclusion from all of the above?
While individuals are aware of cyber threats and best practices for protecting their accounts, distrust of password managers is still high.
Transitioning to a password manager app can be challenging for both private and corporate users.
Despite the fact that companies are showing interest in password managers, they are still really used by far from the vast majority.
But businesses cannot simply ignore modern IT and data security requirements, especially when customer data is involved.
A password manager is not a magic bullet that will dramatically improve the entire company's cybersecurity, but it is an affordable way to put in order and centralize disparate passwords, reduce the risk of attacks and loss of important data.
If you're still hesitant about a password manager adoption for your business, contact us by phone on the website or via the contact form and get detailed advice from our experts and the opportunity to test our password manager PassSecurium™.
Sources:
World Password Day Global Survey
Password manager annual report
