Protecting Passwords: The key to securely lock enterprise digital assets

A few months back, Facebook, the social media giant, acquired the headlines of cyber security news due to poor password management. Millions of users’ private credentials were stored in plain text format which was revealed by a reporter in a security blog. Although Facebook has denied the privacy breach of those million users (many of them were even in Instagram) and has assured that any kind of password reset is not required, we can not deny that the risk still prevails. Earlier during the end of 2018, an unknown hacker illegally accessed personal details of 29 million users of Facebook. The organization took immediate action and involved the FBI in the investigation. However, from the users’ perspective, it was always a matter of worry that the hackers were targeting the same organization repeatedly which pops the question of password security management.

The popularity of Facebook has drawn everybody’s attention in this negligence of user privacy but there are hundreds of other organizations across the globe who do not possess a robust password management system to secure their data assets. Even today, there are data centers who save credentials in common spreadsheet which is easily accessible to anyone and thus incurs high security risks.

Enterprises are not taking adequate measures to keep security risks at bay

Today more than 80% of data breach incidents happen due to poor privileged password management. Still, organizations fail to provide utmost security to all the passwords available in the enterprise network. People tend to use simple passwords for memorizing them easily but the predictability factor makes passwords more vulnerable and easy to hack. Most of the time, employees maintain excel sheet of passwords or keep it written somewhere for easy access. However, it highly increases the security vulnerability and paves the way for malicious insiders and organized cyber-criminals to inflict the damage easily.

ARCON, being a thought leader in risk preventive solutions always propagate enterprises for implementing proper Password protection. It is one of the most crucial security areas for enterprises to protect data assets from unauthorized user access. Extra cautiousness is highly required for organizations when it comes to privileged passwords because they are the gateways to all sensitive and confidential information. The vulnerability of passwords is more evident in a shared and distributed environment. If privileged accounts or credentials are shared by multiple users, information assets are prone to breaches. Hence organizations must ensure that the privileged accounts are resistant enough against password hacks.

The bottom-line

The malicious insiders and their hacking techniques are getting sophisticated day by day. In order to tackle data breaches and emerging IT threats, it is highly imperative for the organizations to take preventive measures before it is too late. With the help of Password vaulting, one of the foundations for robust Privileged Access Management, organizations can frequently randomize and change passwords so that an enterprise’s confidential data does not fall prey to cyber-crooks.

ARCON is a leading enterprise risk control solutions provider, specializing in risk-predictive technologies. ARCON | User Behaviour Analytics enables to monitor end-user activities in real time. ARCON | Privileged Access Management reinforces access control and mitigates data breach threats. ARCON | Secure Compliance Management is a vulnerability assessment tool.

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