Unique passwords are key in preventing cyber fraud and theft

By ELLIOTT GREENBLOTT
Whether on a computer, tablet or smart phone, 2018 cyber fraud will continue to be the leader in terms of the volume of frauds attempted. The convenience and need of being a “more connected” carries as many dangers as it does benefits to society.  

The most important piece of online protection involves passwords. Whether you check financial statements, shop, or access social media online, passwords have become a necessity as well as a source of irritation to most users.  Some have chosen to solve this problem through simplicity — the same password for everything or passwords that are easy to remember (the most frequently used password is PASSWORD).  So, what rules should apply?  Unique passwords for each account.  Using the same password everywhere means that a single password theft allows access to your entire cyber life. While some websites have rules, the best passwords are 8-15 characters long and use a mix or upper and lower case letters, numbers, and symbols, such as 9Axy$496. Another approach is called character replacement — begin with a word, combination, or phrase such as BASEBALL GAME and convert it to a series of letters, numbers and symbols – B@536a11_G@m3.  

What can you do if you have a mind as porous as mine or you have 40 accounts?  Two solutions:  a record book or a password manager.  (There is a third, less attractive option. Practically all websites have a “back door” to accounts for password resets online or by telephone. While this approach works, it is a major pain if you have more than one device.) The record book is simple, inexpensive, and  low-tech. Purchase a pocket address book and write down all of your passwords.  When not at the computer, store it in a safe, hidden space.  This solution works best if your on-line access is confined to a single computer.  Or use a password manager, usually cloud-based  storage systems that allow you to access your data from each of your devices.  One such application, iCloud Keychain, is a free Apple device feature where passwords are stored and access available by user ID and system password. It is effective but relies on the vulnerability of the general user account.  

A preferred solution, commercial password management software.  Numerous computer security services offer controlled access to your list of passwords.  You purchase the software, create a single encrypted confidential password, enter account information with the password in a file, and lock the file.  This approach is extremely safe and the data can be accessed only by you from multiple devices.  Two negatives.    Most commercial services do not maintain a copy of the master password to your account. If lost, the only option may be to delete the account data and reenter everything. Also, these are services with fees typically from $20-$50 per month. My feeling is that the best ratings come from neutral or highly reputable reviewers such as Consumer Reports, Consumers Advocate, C|NET, and PC Magazine.  Check ratings, and “Google“ Password Management Ratings for a list of reviewers. For questions, contact [email protected]. 

Elliott Greenblott is a retired educator serving as the Vermont AARP Fraud Watch Network Coordinator.