Online passwords are used for many critical aspects of our lives. They are needed when we communicate, work, transact and travel. We use them to access our most sensitive data, from banking to health records. Digital passwords are the keys to our lives. Yet we are surprisingly negligent about password protection, from our choice of passwords to the means we use to remember them, and troublingly, our willingness to share sensitive passwords with others.
Keeper Security’s survey of 4,000+ respondents in the US and UK unearthed negligent attitudes toward password protection, in which passwords are being shared with spouses, written down on bits of paper, changed too often, and forgotten over 50 times per year! The result: nearly half of our 2,000 US survey respondents had been hacked at least once, with an average of $378 stolen per cyberattack. The consequences of poor password protection can be disastrous in an era of growing online crime and identity theft. A hacked password can result in ransacked bank accounts, obliterated credit ratings, damaged personal lives and severed business relationships.

Our findings show a troubling disconnect between the value people attach to their passwords and the means they use to protect them. In the US, people would rather see a dentist than lose their passwords, yet safe selection, storage, and management of passwords were found to be severely lacking in this study.

It is of great concern to see passwords being shared and duplicated across multiple platforms. It’s equally concerning to see the use of overly simple passwords, relying on publicly-available data, such as names and birthdays. This will remain an acute challenge as we continue to use a range of devices and platforms to access the internet. The impact of poor password protection was evidenced by the number of people in the survey reporting they’ve personally fallen victim to a cyberattack, resulting in financial loss and compromised social media profiles.