Password Managers that can Protect your Identity and your Assets

Christopher ZeniosChristopher Zenios04/09/20195min
Any high net worth individual is the perfect target for hackers and fraudsters. Although most of them are aware of their vulnerable position, not all of them take the right measures to safeguard themselves. Installing a password manager is an important step towards protecting their identity.

A password manager is an app where users can save their passwords and other personal information such as credit cards, driving licenses, IDs and more. The information gets encrypted and is available to use at any time.

When the user signs into an account which is not saved in the app, the password manager can detect the new credentials and save them so that it can autofill the username and password in the next login.

Most password managers include other helpful features such as password generators and browser extensions to increase protection against hackers.

Although it is still a new industry, there are several password management solutions in the market that HNWIs can choose from.

 

Free option

KeePassXC

This is a free open-source fully cross-platform manager. You can store passwords and other private data with AES, Twofish or ChaCha 20 encryption.  It also offers a stand-alone password and passphrase generator along with a password strength meter. You can integrate it to your Google Chrome, Chromium, Vivaldi and Mozilla Firefox browsers.

 

Budget-friendly subscription & self-hosted solution

Bitwarden

This is another open-source solution that is conveniently optimized for use on desktop, laptop, tablet, and phone devices. It also offers powerful command-line tools (CLI) to write and execute scripts on your Bitwarden vault. For anyone who doesn’t want to use the Bitwarden vault, with Docker, they can easily host Bitwarden’s entire infrastructure stack on the platform of their choice.

 

User-friendly interface

Dashlane

Dashlane offers all the basic features of most password managers and more, all from a friendly interface that is very simple to navigate. Its extra features include an identity dashboard that monitors the user’s password strength and level of security, dark web monitoring which scans the web for leaked personal data and a VPN so users can conceal their identity while connected in unsecured networks.

 

Most efficient

1Password

This is a great overall solution for individuals, families and businesses alike. When managing passwords, users can create several vaults which they can share rights to with different groups of people or even add guest accounts to share specific information with. The travel mode feature lets users remove sensitive data from their phone for the duration of their trip and restores it upon their return. It also includes a watchtower which keeps track of password breaches and other security problems.

 

Decentralized solution

DIW

While still in the development stage, this project is worth mentioning since it plans to integrate decentralization in password management. The premium version of the app plans to save users’ data on a decentralized cloud. This is a system where data is stored on multiple computers or servers which are part of the cloud. The owner of the data is the only one who can retrieve it thus the company will have no access.

Designed by blockchain enthusiasts, DIW plans to offer a passwordless account based on a blockchain wallet. Their friendly user interface will make the app easy to use by the average user without the need to have advanced technological knowledge. Combined with their browser extension, users will be able to login into sensitive accounts from any public or potentially unsafe network without having to worry about compromising their credentials.

Christopher Zenios

Christopher Zenios

Christopher has always been a pioneer, a first adopter when it comes to technological advancements. Over the years, his expertise surrounded the real estate and digital markets and their evolution in today's society. After being the editor to various professional business news portals and blogs, he was selected to become the chief editor for HWC. Contact Christopher at +357-22029786 ext: 6110 or by email at czenios@highworthcitizen.com for editorial related questions.



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