In the wake of the latest LastPass Breach the question being posed by business owners calling into our office is “Should we still being using a password manager.”
Yes. Yes, you should.
The fact of the matter is that LastPass has had multiple incidents, and switching password managers is among the decisions that should be made right now.
What Should I Do if I Use or Have Used LastPass as a Password Manager
1. Change it Up. Yes. You should change the password for every single sign on store in your vault. Start with financial and banking sites and work out from there. It is a pain, but it needs to be done.
2. MFA. If you haven’t gone through the steps to enable multifactor authentication for every single site that you visit that allows it, the time is now. This is an additional layer of security between you and criminals in the event they do get a hold of a password that hasn’t been changed.
3. Monitor Your Accounts. Closely monitor your credit card and bank accounts to ensure that there are not unauthorized charges being put through.
4. Freeze Your Credit. To protect yourself, freeze your credit so that new accounts cannot be opened in your name without your approval.
The fact remains that one of the biggest threats to businesses is employees reusing passwords. So much of what we do is cloud based, and that will just continue to increase over time. Without a tool such as a password manager, employees will absolutely reuse passwords, and it is just a matter of time before a breach catches up with your organization.
Password Managers are part of a well-built out security strategy for your business. The security posture for your business should be revisited at least quarterly. Advanced protection is never a one and done equation. We should all be looking at creating layers of security around our businesses.
In addition to a password manager, multifactor authentication, ongoing employee training and firewalls are among the constantly changing tools businesses can and should be deploying.
Many times, we can tend to have knee-jerk reactions when learning of breaches to vendors that we use. The worst thing that we can do is adopt an apathetic security posture. Throw our hands up in the air and do nothing. When it comes to protection, we need to remain vigilant and take the necessary steps to safeguard ourselves, our clients, and our organizations.
The benefits of using a password manager far outweigh the risks.
If your organization has questions regarding Password Managers or Cybersecurity, call our team. We are ready to help!