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!