Security Flaws Detected in Password Management Systems

Password management software like LastPass, RoboForm, My1Login, PasswordBox and NeedMyPassword have all been found to contain critical vulnerabilities that could result in millions of people having their credentials stolen.

What is Password Management?

Passwords can be complicated these days when you have them for so many different sites. That’s why Password Managers were created to remember your passwords no matter what settings a certain program or website uses. You just click a button and the information fills itself in. Since you won’t have to remember the password by yourself, you can create passwords that are unique and complicated so they will be much harder to guess.

Password Management software is really only recommended for use on a personal computer that no one else has access to as anybody could come along and log into any website you use, including your email and Internet banking.

How were the flaws detected?

Researchers recently identified security holes in the five companies mentioned earlier. While it is possible that some of these issues may not have been detected right away, it is believed that no customers have been affected at this time. Nevertheless, the companies were notified right away and have all confirmed that the issues have since been fixed.

As it was believed that no specific attacks occurred, the companies declined to advise their customers of the issues. However, if you use any of these programs, you might want to consider changing your password as an extra precaution anyway.

Are Password Management systems safe to use?

With programs like this, there are always risks to consider but some people are willing to take them in exchange for the benefits. There is always the option of using the software only for less important logins if that suits your needs. Either way, it’s up to each person to decide what is best for them.  If you do want to use password management, make sure you’ve done your research first. Read up on the privacy policy of whichever program you choose and read reviews before deciding which is best for you.

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