“But I’m So Careful!” How Do Hackers Get Passwords?

Summary: How do hackers get passwords, how to remember passwords and what is a password manager?

How Do Hackers Get Passwords?

Selecting and remembering passwords has become part of our lives, especially for people at small and midsized businesses (SMBs), which have attractive resources for thieves but often lack the budget or manpower to defend themselves. In part, passwords are more popular than other authenticating measures, such as facial recognition, because they are easy, free and require no additional hardware. Unfortunately, as with many things that are simple to use and cost-free, passwords are enticing vulnerabilities for cybercriminals. There are several common methods hackers use to steal passwords:

• Phishing – Phishing is the most widespread cyberattack used by hackers. It is a social-engineering scheme that tricks users by using fake domains and logos disguised as legitimate, trusted sources to prompt them to supply their credentials. Those credentials include passwords, usernames, account numbers and other personal data that a user generally would keep private
• Password Spraying – Password spraying is a technique in which hackers barrage a list of legitimate user accounts with a long list of common passwords. They can automate the process, which allows them to test a very long list of possible passwords against usernames
• Credentials Stuffing – Credential stuffing is similar to password spraying. It’s also known as list cleaning and breach replay. In stuffing, hackers run lists of current stolen credentials, such as passwords, against many accounts, looking for a match. IT experts believe that every day, millions of accounts are tested by credential stuffing
• Keylogging – Keylogging is a type of spyware that literally “logs” every keystroke without the user’s knowledge. Keylogging requires infecting a device with keystroke malware. Once installed, the hacker will know everything a user is doing on that device, making breaching passwords and bank accounts very easy
• Local Discovery – Although fairly low risk, local discovery occurs when a password is recorded on paper or saved openly in a device, whereby the cyber thief finds the password and uses it for nefarious data breaches

Q: Why is password security important for small businesses?

A: Password security protects sensitive business data, financial information and customer records from unauthorized access. Small businesses are often targeted by cybercriminals because they may have fewer security resources. Strong password practices reduce the risk of data breaches, ransomware attacks and account takeovers that could disrupt operations and damage customer trust.

What Are Password Managers, and Does Your Small Business Need One?

Cybercriminals continue to get better at hacking, so we need more complex passwords than ever. However, remembering multiple passwords comprised of a variety of characters and symbols is no simple task. That’s why you need a password manager, which is part of device management and the best way to create strong passwords as well as how to remember passwords.

Password managers are robust tools for keeping track of the unique passwords you use for multiple websites. They can generate strong, random, multi-character passwords that will be way more secure than any you create off the top of your head.

Q: What additional steps improve password security beyond strong passwords?

A: Businesses should enable multifactor authentication (MFA) wherever possible. MFA requires users to verify their identity with an additional method, such as a code from a mobile app or security key. Even if a password is stolen, MFA significantly reduces the likelihood that attackers can access company systems.

Password managers are definitely better than we are at creating and storing strong passwords. However, using password managers built into web browsers isn’t as safe. If you use a built-in password manager and fall victim to a cyberattack, the hacker can gain remote access to your computer and steal all your passwords in one hit. An unsecured password manager can allow hackers to operate as if they have a master key to the lockbox that holds all of your keys. There are many strong password managers available. As your private data is of the utmost importance, it is well worth purchasing a secure password manager.

Q: What is a password manager, and how can it help small businesses improve security?

A: Password managers securely store and organize login credentials, so employees don’t need to remember multiple complex passwords. They can also generate strong, unique passwords for each account. This reduces password reuse, prevents employees from writing passwords down and helps businesses maintain more consistent security practices across teams.

What Are the Best Password Managers for SMBs?

That depends on the size of your business, your industry, your workforce and your growth. Securing passwords and other private data is vitally important. As your business expands its network and adds more devices, such as smart controls, wireless access and remote access, your vulnerability grows, too. With each addition of employees, devices and platforms, password vulnerabilities become more complicated. IT security providers specialize in proactive cybersecurity and network security and have an array of solutions that small and midsized businesses can use to defend against cyberattacks and other network data breaches.

Se up a call with us if you’re looking for a managed cybersecurity service or contact a small business IT security expert near you to learn more about how to remember passwords, what is a password manager and getting affordable cybersecurity for small business.

Q: How can small businesses help employees manage complex passwords?

A: Small businesses can provide password managers to help employees securely store and generate strong passwords. These tools allow staff to use unique, complex passwords without needing to remember each one. Password managers also reduce the temptation to write passwords down or reuse the same credentials across accounts.

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