If part of your new years resolutions for 2022 was being more organised and sorting out your online security then you have come to the right blog and if it wasn't, you're still at the right blog!

Using a password manager is the single best way to boost your online security. There will be no more need to remember dozens of long, complicated passwords. Instead, you'll have just one long, complicated password or even your fingerprint that can unlock all the rest.  Plus, you can say goodbye to Post-it notes! Yes, the FortiTech team still spot the odd Post-it note stuck to a screen or PC case with login details.

It can be a confusing process narrowing down the right password management tool for you, so today we have done the leg work and covered off our top 5 must haves in a password management tool.

When choosing a password management tool there are 5 key considerations to take into account:

1. Security & Encryption

The main function of a password manager is to protect your login credentials from hackers and other unauthorised users.  Some password managers alert you when you create a weak password but don’t force you to choose something stronger. Others require strong master passwords to ensure your data stays private, we recommend choosing a password manager with both of these features.

2. App Compatibility

Few people use just one browser or device these days, so it’s important for a password manager to work on many platforms and browsers.  Ideally you want to look for a password manager that works on the operating systems and internet browsers that you personally use, this can include Windows, macOS, iOS, Android, Linux, Chrome, Firefox, Safari, Opera, and Edge. 

With cloud based password managers you can sync your passwords across an unlimited number of devices, although you may have to pay for that; free versions are often limited to one or two devices.

3. Usability & Ease of Use

Look for a password manager that supports biometric authentication. This security method uses fingerprints and other unique identifiers to verify your identity before granting access to your accounts. Although no security method is 100% foolproof, biometric authentication is one of the most secure ways to protect your data, as it’s incredibly difficult for a hacker to replicate your fingerprints or some other unique aspect of your identity.

4. Password Sharing

Password sharing is important if you plan to create an account for multiple users. To help you choose the right one for your needs, determine how easy it is to share credentials with family members or business associates. The best tools make it easy to share passwords for music and video streaming services, joint credit cards and other shared accounts.

5. Price

Lastly, it is important to choose a password manager that fits your budget, there are plenty of free options available which are obviously better than nothing at all and will tick the majority of boxes but may limit you to only using your account on 1 or 2 devices , but for a small amount each month (most password managers are in the $30-$40 a year range) for a paid version the added feature such as a larger number of devices is a huge benefit especially for families.

The best password managers also quickly and easily generate strong passwords for you. Most can automatically fill in login forms, and many also fill in credit-card numbers and personal details. Our blog on the top 5 techniques used to hack your password covers off just how easy it can be for hackers to crack your password and gain access to your accounts, the less options there are for hackers to gain access to your data the better.

The importance of securing your passwords is critical, since 2019 over 7.9 billion records including passwords and credit card numbers have been leaked in data breaches. In fact David talked about passwords and multifactor authentication in webinar for the College of Law's Centre for Legal Innovation in 2020 and highlighted some shocking statistics which you can read more about in this blog here.

Cloud-based password managers like the ones we will outline below are popular and easy to use. These services keep encrypted copies of your vault on their own servers, ensure that all your devices are always synced and encrypt the transmissions between your devices and their servers.

The risk, though small, is that one of the cloud servers could be breached and your passwords released out into the wild. (LastPass has had a few documented security issues, all of which were quickly fixed, without losing any passwords.)  

If a password manager is doing its job right, it's storing all your passwords in encrypted format, and storing your master password only as a "hash" that's the result of an irreversible mathematical process.

Whether it's local or cloud-synced, a password manager puts all your eggs in one basket, so to speak, unless you use more than one password manager. But for most people, the demonstrable security benefits of using a password manager far outweigh the disadvantages.

Let's have a look at a comparison of some of the more popular password management apps: