In August 2022, LastPass — one of the largest password managers in the world — suffered a cyber breach, resulting in the theft of thousands of password vaults of both individual and corporate users. Even if an organization has never used LastPass, it may still be at risk of a breach that could cost it millions.
Password managers are software tools that allow users to securely store and manage passwords. Because a single password manager can store usernames and passwords for dozens of accounts, a breach of a password management service is especially pernicious.
Remote work became normalized during the Covid-19 pandemic, and with it, the normalization of granting third parties access to corporate networks. Often, these third parties use password managers to store the usernames and passwords needed to access these accounts. As a result, the breach of a password manager can render many thousands of unsuspecting organizations vulnerable to compromise.
Without immediate action, organizations…
Read the full story from the Washington Business Journal.
