LastPass by LogMeIn, recently released findings of a new global survey, “Psychology of Passwords: Neglect is Helping Hackers Win,” revealing that despite today’s increased threat landscape and heightened global awareness of hacking and data breaches, password behaviors remain largely unchanged.
Data from the survey shows that 91 percent of people know that using the same password for multiple accounts is a security risk, yet 59 percent continue to use the same password. As a result, individuals’ behavior in creating, changing and managing passwords in both their professional and personal lives is slow to match the rapid evolution of cybersecurity threats.
Not only do most respondents (59 percent) use the same password for multiple accounts, but many continue to use that password as long as possible — until required by IT to update or if impacted by a security incident. The fear of forgetfulness was the number one reason for reuse (61 percent), followed by wanting to know and be in control of all of their passwords (50 percent).
The majority of respondents (79 percent) report having between one and 20 online accounts for work and personal use. When it comes to password creation, nearly half (47 percent) say there is no difference in passwords created for these accounts. Only 19 percent create more secure passwords for work and 38 percent never reuse the same password between work and personal, which means that 62 percent do.
“The cyber threats facing consumers and businesses are becoming more targeted and successful, yet there remains a clear disconnect in users’ password beliefs and their willingness to take action,” said Sandor Palfy, Chief Technology Officer of Identity and Access Management at LogMeIn.
Individuals seem to understand password best practices, but often exhibit password behaviors that can expose their information to threat actors. Taking a few simple steps to improve how you manage passwords can lead to increased safety for online accounts whether personal or professional.
I invited Sandor Palfy onto the show to find out more and how we can protect ourselves against AI-powered security threats.
- Connect with Sandor Palfy on LinkedIn and Twitter
- Psychology of Passwords eBook and Infographic
- Follow LastPass on Facebook, Twitter and YouTube