Security.org Research Finds Passwords Managed By Memory Have 2x Chance Of Being Stolen Or Compromised

Nearly one-third of Americans had their identity or online credentials stolen in the past year yet, per new research, just one-in-five Americans (estimated 45 million) currently use an encrypted password manager (also known as “password vault”). Another 128 million non-users are open to trying them, but is there more to blame for slow adoption than concerns about security and cost? And, has the further increase in cybercrime during the pandemic made a difference in those – including recent victims – who may now consider the option?

Security.org surveyed more than 1K American adults about their personal experience with cybercrime, methods of password tracking, and opinions of password manager applications, and found that:

  • Among those who suffered a password or identity theft, 90 percent were not using a password manager at the time
  • Those who rely on their memory to manage their passwords are twice as likely to have their credentials or identity stolen as those who use password storage tools
  • More than two-thirds of those who don’t currently use password managers, or approximately 128 million people, would consider getting one in the future
  • Our personal, professional and financial information reside behind passwords that 60 percent of Americans track with their memory or paper notes

Full research is here: https://www.security.org/digital-safety/password-manager-annual-report/

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