Passwords are one of the most common forms of authentication used in the digital world. They protect our personal information, financial data, and other sensitive information from falling into the wrong hands. However, passwords are only effective when they are strong and kept secure. That’s where password management comes in. Storing passwords someplace poses a great risk of losing them or facing a breach.
Recently LastPass, a popular password management tool, reported two incidents. Although neither of the incidents was caused due to product defects or unauthorized access to production systems. The threat actor exploited a vulnerability in third-party software, bypassed existing controls, and eventually accessed non-production development and backup storage environments.
In one incident, a software engineer’s corporate laptop was compromised allowing the unauthorized threat actor to gain access to a cloud-based development environment and steal source code, technical information, and certain LastPass internal system secrets. No customer data or vault data was taken during this incident, as there is no customer or vault data in the development environment.
In the second incident, the threat actor targeted a senior DevOps engineer by exploiting vulnerable third-party software. The threat actor leveraged the vulnerability to deliver malware, bypass existing controls, and ultimately gain unauthorized access to cloud backups.
The data accessed from those backups included system configuration data, API secrets, third-party integration secrets, and encrypted and unencrypted Lastpass customer data. In response to both incidents, the password management tool responded promptly and conducted an investigation which revealed that no customer vault was taken.
These two incidents raise a few questions; How safe is it to store your passwords? Can the security of those vaults be compromised? Is there any other way? Yes, that’s where EZPD Password Manager comes in.
How is EZPD Password Manager Safer?
EZPD Password Manager is convenient and safe. It is beneficial for medical professionals, business professionals, financial professionals, public accountants, law firms, individuals as well as government officials. It can be useful for storing password protected client data, files, information, records, etc. Securing passwords is essential. Cyberattacks are becoming more sophisticated, and hackers are continually finding new ways to steal sensitive information.
Passwords are often the first line of defense against these attacks. However, if a password is weak, easy to guess, or reused across multiple accounts, it’s like giving the keys to the kingdom to a hacker. Password management helps protect against these attacks by ensuring that passwords are strong and unique to each account.
How is EZPD different?
EZPD is a password manager that generates and regenerates the same passwords. EZPD doesn’t store the passwords. It’s the new concept in password protection. With the increasing sophistication of cyberattacks, it’s becoming more difficult to keep passwords secure. As a result, a new concept in password protection has emerged, which emphasizes password regeneration instead of storing or sending passwords to group members to share.
The traditional approach to password protection involves storing passwords in a secure location, such as a password manager, and using them to log in to different accounts. While this approach can be effective, it’s not foolproof. If a hacker gains access to the password manager, they can potentially access all of the stored passwords.
To address this issue, the new concept in password protection emphasizes password regeneration. Instead of storing passwords, basic information for a website or file names, the number of password characters, and the character set to be used are stored. Users can generate and regenerate a unique password for each login account on demand using the stored information.
The unique features of password regeneration technique are twofold. First, it eliminates the need for storing passwords, reducing the risk of password theft or loss. Second, it provides a more secure way to share passwords with team members because each group member can generate the same password without sending the password.
In conclusion, password generation and regeneration is a new concept in password protection that emphasizes the use of password regeneration on demand instead of storing or sending passwords to share with the team members. This approach clearly provides an additional layer of security in password protection.
EZPD is different because:
- EZPD does not store passwords anywhere
- It generates unique passwords up to 256 characters
- Group password can be shared by regeneration, not by sending the password
- Custom passwords with alphanumeric and special characters
- No one can reproduce user’s unique password
Cybersecurity is a crucial part for every business, especially in this age of digitalization. Get your business secure with EZPD Password Manager. Get in touch with us today!