Understanding Password – The Key To Your Technology Assets

Password is literally, the key to your technology assets.

Anyone with your house key can enter into your house easily (there are other ways of course – but this is the least fuss). Similar to the physical keys, anyone has your password can use your accounts, be it your bank account, laptop computer, etc.

Especially if they all share the same key.

If we have multiple doors in a house, we might have the same key for the different doors. But if we have multiple houses (say that you own a few rental properties), you’ll be smart not to have the same key for the different houses. After all, as good as you are with your tenants, you probably don’t want them to ┬áhave access to your house.

And your car key is a different key from your house key as well. Thieves who stole your car key won’t be able to use the car key to enter into your house.

Yet, most of the time, people reuse only a couple of passwords for the different accounts they have. The same person, however, will have different key for different houses/cars.

Is it because people are “smarter” and more secure about the physical world? Unfortunately, it’s not due to us being more street smart in the physical world; this outcome is really a happy accident, because different physical locks come with different keys automatically, so we don’t really have a choice.

And when we do, we often opt for convenience.

For example – anyone who runs a large apartment knows the pain of having to deal with a huge set of keys. Even if you never manage a large apartment, you might have applied to live in one, and have seen the landlord carrying a large sets of keys, and fumble through them to find the right one when you went to see the unit.

If the landlord has enough money, she can buy a master key system that can then obviate her need to carry all the keys, and carry a single master key instead.

Yes – many keys is a pain to manage, whether physical or virtual. And whenever possible, people opt for convenience instead of full security.

This is the reason why many of us only have a single password for all the different websites we have.

But same as the master key, once compromised, all of the unit can now be unlocked. If a hacker obtain your single password, he can now get into all of your accounts, potentially take all your money in your bank.

You don’t want to place all the eggs into a single basket.

Say NO to single password! If there is one thing you should take away from this blog – this is it.

Of course – as stated above many passwords is a pain to manage. But comparing to having a single password stolen, it’s a much more preferable alternative. We’ll explore how to manage passwords appropriately in future posts.

 

 

 

 

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