Password protection has never, for once, lost its importance on the web and rightly so, since it’s the first thing hackers target. However, making a complex password and protecting it is what matters these days. A predictable password is of no use. Whether it’s a phishing attack or malware spread, every one of these web security concerns find their way inside a system by exploiting unprotected backdoors. Hence, it’s those backdoors that have to be sealed shut.
That said, before you can learn about advanced password protection techniques, it’s pivotal that you understand how hackers work these days. Here’s a list of everything that you should know as an organization – especially the ones from the financial sector.
- Most financial attacks have happened between the year 2017 and 2020. And the reason has been credential stuffing.
- Hackers have worked out many ways to use Google services – that were designed for user security – for their aid. They are using these tools to create domain names that are so similar to the original websites that google ends up sending a malicious email in the inbox instead of spam. Also, firewall software fails to detect a duplicate malicious website from the original ones.
All in all, tools and software that were designed for user security, at times, end up in contributing to vulnerabilities. Therefore, you, as an organization, have to be more aware of how to protect the privacy of your users and employees. And here’s how you can do that.
- Practice MFA
Add MFA as a security tool for all the work systems in your network. MFA will not just increase the security of the systems in office but also when the employees are working remotely.
Here’s how it works:
- Earlier it was a strong backdoor password that was used for system protection. But MFA (multi-factor authentication) adds 2 or 3 more security layers to protect the system.
- After clearing the backdoor password by typing the right one, the user isn’t granted system access.
- Password clearance takes the user to more security layers (like the biometrics).
- All additional layers have to be cleared one by one.
- Only after all the layers are cleared that the system can be accessed.
So, when a system is using MFA, password breach alone cannot compromise the data.
- Use a Password Manager
One of the worst password practices is writing the passwords in unencrypted files for the sake of remembering them. A single security breach can give hackers enough time to steal all those passwords at once. Which is why you need to use a proper password management and protection app. Here are the benefits of using one.
- It’s encrypted. Hence, even if the system gets compromised, hackers cannot steal other passwords right away, giving you enough time to protect the other passwords.
- The latest password management apps can also create very strong passwords for you.
- When using such apps, you’ll have to remember just the app’s password and that’s fairly simple than remembering multiple passwords.
To sum up, modern web security techniques are quintessential when trying to fend off hackers from laying hands on sensitive information.