Password Managers store your passwords, along with the usernames and web addresses they are for, as well generating new, random passwords. By storing the official websites into your Password Manager, you can access them directly from the manager, rather than clicking on links or risking typos that lead you to phishing (fake) websites.
Password Managers are available on Google Play or the App Store and can attract a cost. Some also have a free version, with certain limitations (so you can upgrade to a paid version if you like it and access all the features). Others are always free without limitations.
Always do you your research, read reviews, and search online for the name of the Password Manager you are considering to see what others are saying.
Password Managers are as safe as you are with your online activities. IDCARE recommends Password Managers that have multi-factor authentication (such as requiring username, password and code) and can limit specific device usage. This means that the Password Manager can only be accessed using a specific device or devices that you have authorised.
The benefits of using a Password Manager include ensuring that you have variable passwords and complex ones that you do not have to remember. Remembering passwords is one of the main reasons people use the same password for several different accounts. Using the same password is also one of the main reasons why online accounts are vulnerable to being hacked.
Be careful about where you store and how you store your recovery keys and codes to your Password Manager. If you don't protect these, then "the keys to your Kingdom of passwords" can be at risk. It is really important to store the key safely and not to share it with anyone. If you lose the key and forget your master password, it is often impossible to access your Password Manager again.
Try before you buy (or commit). Most Password Managers will allow you to export your saved data and import data from other Password Managers. If the Password Manager you are considering using doesn't allow this, then you may find it difficult to change to another Password Manager down the track.
When you first choose a Password Manager, you will need to create a master password to access your account manager. This is your most important password, so make it something easy for you to remember, but hard for anyone else to guess. Suggestions for this type of password include using a combination of phrases and numbers that are significant to you (but not someone's date of birth!), and a favourite symbol that you will remember. For example, you could use a combination of your first postcode, your best friend's nickname from primary school, the last four digits of your partner's phone number, and your favourite drink at the pub or coffee shop, with a random symbol at the end.
Make sure you also set up multi-factor authentication, so you need both your password and that extra level of protection to access your Password Manager. This could be using facial recognition on your phone, SMS verification codes, or codes sent to an authenticator app.
Remember, whatever Password Manager you choose, it is only as safe as your online activities. Never share your master password, master key, or verification codes, no matter how legitimate the request seems. Always make sure you are using legitimate websites or apps before entering your username, password, verification or other personal information.
IDCARE offers a wide range of Fact Sheets and information related to cyber security and identity protection. Please see some of our other Fact Sheets for more information.
For additional support or information, contact IDCARE by submitting a Get Help Form or call 1800 595 160 (Aus) or 0800 121 068 (NZ).
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