Most organizations don’t have a strict password policy. Many employees forget to change their passwords. They use the same password for accessing multiple accounts on multiple sites. Thus, most businesses have a password problem. You can solve this problem by creating a strict password policy. In this article, we are going to talk about the importance of a password policy.

Why password policy is important for your business?

If you have a documented password policy, then it will help you in preventing your passwords from being hacked or guessed. However, many companies forget to create a password policy.

Cybercrimes are only going to rise with time. Attackers are always looking for unique ways to hack into business networks. Thus, it is important to ensure that password policy is a part of your IT security strategy. If you don’t have a password policy, then you will be left with weak passwords.

More than 1 billion email passwords were leaked in one recent data breach. If you are using the same password on multiple sites, then all your accounts will get hacked in case of a data breach. Attackers will get access to all your accounts if your password gets leaked in a data breach.

Most data breaches occur due to weak passwords. Employees will probably use a weak password for accessing your data and applications. Attackers can easily steal these passwords by using simple brute force attacks. Thus, your entire data will get leaked. An attacker can use the same password for accessing all the applications that you are using. Your employees might be accessing your database, sensitive data, and financial information. Thus, it is important to ensure that they are properly protecting your data.

If a hacker guesses the password of your employees, then they will get access to your entire network. They will understand that your business has a weak password policy. Thus, they will try to look for an important account in your network.

How to create a password policy?

Now you understand the importance of a password policy. Thus, you should now focus on creating a password policy. The details of the password policy will vary from business to business. It will depend on the level of access that your staff has. Also, it will depend on the applications that you are using and the data that you are storing. You should consider the following areas when you are creating your password policy:

Change default passwords

If you are installing new hardware or router, then you should first change the password. This will ensure that your hardware is protected from brute force attacks.

You should also change the default password of your online accounts. Most online sites will send you a default password in starting. You might think that the default password looks strong. However, attackers can easily get access to this default password. Thus, you should first change your password.

Use microsegment

If you don’t want to change the default password, then you should at least microsegment. Many companies are now buying IoT devices in bulk. Thus, you might have access to hundreds of IoT devices. It is impossible to change the password of every IoT device. Thus, you should use microsegment for securing your IoT devices.

Don’t write your passwords

This might seem like obvious advice to you. However, many businesses are still writing their employee’s passwords and stick them to a monitor. Some businesses are using excel documents for managing their employee passwords. If attackers got access to your excel document, then all your employee’s accounts will get hacked. Attackers will get access to all the data that you have stored.

Use automatic password purges

It is difficult to ensure that your employees are regularly changing their passwords. Thus, you should consider using an automatic password purging program. This program will force your users to reset their passwords after regular intervals. You can set the interval in the application. Make sure that your employees are changing their passwords after every quarter.

Device audit

You should regularly perform a network audit. This will ensure that your network is working properly. You should also regularly audit the devices that are connected to your network. This will ensure that you have an up-to-date record of the devices that you are using. It will help you in tracking all the devices that are present in your network. Also, you should ensure that you are using strong passwords for protecting your devices.

Password manager

Sometimes it can be difficult to learn strong and complex passwords. Thus, you should consider using a password manager. A password manager will help you in managing all your passwords. If you are using a password, then you only need to remember the password of your password manager tool. It will ensure that you don’t need to worry about remembering all the different passwords. All the passwords will be stored in your password manager. These tools will also help you in generating unique and complex passwords.

Multi-factor authentication

MFA will help you in protecting your network even if your password gets hacked. If you are using MFA, then attackers can’t access your network just by entering passwords. They also need to enter an additional credential for accessing your account. This will ensure that your network will be protected from attackers. Attackers need to enter a one-time password which will be sent to your employee’s device. Some companies are also using biometric security for protecting their data.

Conclusion

Cybersecurity is very important for modern businesses. You should focus on protecting your user data and applications from attackers. Thus, you should focus on creating a strong security policy. Your password policy will play a very important role in your security policy. It will help you in creating strong passwords. This will ensure that your network will stay protected from attackers. Experienced MSSPs like Bleuwire can help you in implementing a strong password policy. They will ensure that your network is protected from attackers. Thus, you don’t need to worry about hiring security professionals. If you need more information regarding IT security services, then you can contact Bleuwire.

Contact us today to learn about Bleuwire™ services and solutions in how we can help your business.