Glossary
Password Manager
A password manager is like a super-secure lockbox for all your passwords. Instead of trying to remember dozens of passwords (or worse, using the same password everywhere), you remember one strong master password and the lockbox handles the rest. It can even create random, unguessable passwords for you.
What is Password Manager?
A password manager is software that securely stores and manages your passwords in an encrypted vault. It generates strong, unique passwords for each account and automatically fills them in when you log in. You only need to remember one master password to access all your other passwords.
Why Should You Care?
Password reuse is the #1 reason accounts get hacked. When one website gets breached, attackers try those stolen passwords everywhere else. A password manager solves this by making it easy to use a unique, strong password for every single account. For businesses, it also provides secure password sharing among team members.
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Real-World Example
A construction company's owner used the same password for their email, bank, and accounting software. When a fitness app they used years ago was breached, hackers used those credentials to access the company email and initiate a $180,000 wire transfer fraud. A password manager would have meant unique passwords for each account - the fitness breach wouldn't have affected the business at all.
How to Protect Against Password Manager
- 1.
Choose and set up a password manager
- 2.
Import existing passwords from your browser
- 3.
Change passwords on critical accounts to unique ones
- 4.
Install browser extension and mobile app
- 5.
Set up team/family sharing if applicable
- 6.
Enable 2FA on your password manager account
Related Terms
Two Factor Authentication, Credential Stuffing, Encryption, Phishing
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