Password Management is the most basic element of any IT security program, yet new research reveals that businesses are not confident that administrators and user passwords are stored security.
The research, conducted by Cyber-Ark Software, shows that only third are using digital solutions to store passwords, while the remainder continues to use notes, manual processes, papers and physical safes.
Less than 10 per cent of businesses bother to change mission critical passwords (such as administrative) and only 5 per cent change the default manufacture password. Further more, 14 per cent have no password management policy, which means they have no way of controlling who has access to systems.
“It would appear from this research that password management is still a major bugbear for many organizations with two thirds who are still relying on the old-fashioned method of physically managing and storing passwords. Because this process can be so time-consuming and laborious IT staff often circumvent the security processes which can then open them up to potential security breaches.” said Tom Crawford, president and CEO of Cyber-Ark.
“However companies can now simplify the management of administrative passwords by using a digital vault which can securely automate administrative passwords in a cost-effective and efficient way.”