I recently gave a talk at the TD Ameritrade #NationalLinc Conference in San Diego (January 29, 2015) on privacy and security, tactics for protecting your online account. We covered a lot of ground (you can see the preview slides for my workshop) from geo location to passwords to encryption. There were many questions about how to effectively use password managers, so I am following it up with some discussions here on the podcast.
The opportunities and capabilities of using a password manager far outweigh the risks.
- Getting rid of passwords written in notebooks (completely unsecure)
- Eliminating using the same password over and over across many web sites (tragic is someone hacks that password)
- Allowing you to select unique and difficult passwords for every site
- Only needing to recall one strong password to unlock your encrypted library of passwords
- Taking your passwords across all the devices you use
You can also see a recent column in Investment News on the same topic of password managers.
Password App Recommendations
Some links for you:
1Password – a popular password that grew dramatically after expanding beyond just the Mac OS to support Windows as well as mobile devices. Uniquely, 1Password never actually stores your passwords in the cloud. They are encrypted on your local device and then can be synced, encrypted, via iCloud or Dropbox. I have tested this on a Windows phone as well as on PC and Mac devices.
LastPass – this password manager is very popular and has an efficient set of browser apps for use in Chrome, Firefox, Internet Explorer and Safari. LastPass does sync via its own cloud storage, however, they allow you to encrypt your passwords. They have survived hack attacks and have also been very transparent and communicative with users in addressing security concerns.
RoboForm – the oldest of the password managers, and also like LastPass, has their own cloud sync tool. They offer a very robust Internet Explorer and Windows solution – though they also support Mac users and iOS devices.