Data breaches are a nightmare for an organization. Not only do they impact a company’s reputation, but they often end up costing huge sums of money. IBM and Ponemon Institute’s 2019 Cost of Data Breach report states that the average cost of a data breach is $3.92 million.
One of the many ways of preventing data breaches is having a strong authentication system. Passwords are still the primary method of authentication in many organizations. With so much depending on passwords, it’s only natural to assume that users would create strong passwords. However, this is unfortunately not the case, as 80 percent of all successful hacking-related breaches are due to weak or stolen credentials.
Several well-thought-out functionalities such as the password policies in directory services such as Active Directory allow IT admins to ensure that the employees use strong passwords to keep the organization secure. However, hackers are ever-evolving, and even strong passwords are often not enough to keep an IT environment safe anymore.
Even if a hacker has stolen a password, adding another layer of authentication such as a time-based one-time password can prevent a successful attack. A multi-factor authentication system ensures that users logging in to the company’s systems are who they say they are. Likewise, there are several password management practices that can help stop a costly data breach.
With so many practices and ideas for password management floating around, it can get overwhelming to zero-in on the practices that best suit your organization. Don’t worry though, because we’ve got you covered! Join our webinar to learn five password management practices that can help you avert costly data breaches and keep your users’ accounts safe and secure!
