How to navigate the world of virtual storage vaults as hackers target providers.
A password manager can be a vital tool to keep your personal information out of the hands of online criminals – giving you a single log-in to an app that saves you having to remember lots of different codes.
Once you have signed in, you can use the app to store passwords for all your online accounts securely, or even log in to them directly from the password manager itself.
But there is a potential dark side to this technology as it could be a target for hackers.
If a fraudster were able to steal your master password, they could gain access to key financial details all at once. So should you trust a password manager to keep your information safe?
The apps use software to store all an individual’s passwords in a ‘virtual bank vault’. They are then accessed via the single hard-to-crack master password.
Experts including the National Cyber Security Centre – part of the Government Communications Headquarters intelligence service (GCHQ) – believe a password manager makes an individual’s data more secure.
But it has not stopped criminals targeting these password vaults. Last year, password manager LastPass discovered a flaw in its software that was fixed without it affecting the service. In 2015, it also had to fend off a cyber attack.
Password manager OneLogin also ‘detected unauthorised access’ last year but it was able to block it in time.
Colin Tankard, of Harlow-based data security company Digital Pathways, says a password manager does not offer bullet-proof security because it will always be a target for hackers.
Read the full article in The Mail Online here