Using An Online Password Manager

Password Managers

Why Use a Password Manager?

People, in general, are not necessarily lazy, but we do tend to do things in the most convenient fashion.
When you create a login for an account on a website, do you find yourself using the same simple password over and over?
Your financial accounts, like your bank or trading accounts will likely force you to create a password with a combination of numbers, letters, uppercase and lowercase letters, and sometimes special characters. But if it is difficult to remember, you then need to write it down, probably on a post-it note that is pasted to your computer monitor.
All of these situations create a major security hole for your accounts.
By employing a password manager to create strong secure passwords for all of your accounts, will help to eliminate the bad habits we fall into when dealing with passwords.

*Note: Password chains or managers that web browsers use should never be used for financial account passwords! These typically popup with a suggested password that will be saved by the browser and will only work for that browser.
The security is far too weak!
These browser managed passwords should only be used for websites that you casually use or do not care about.

Never use them for your banking or cryptocurrency exchanges and definitely not your cryptocurrency wallets!

Using An Online Password Manager

Advantages of an Online Password Manager
1) Ease of access to your stored passwords on multiple devices
2) No need to remember multiple, different passwords
3) The ability to create very strong difficult to crack passwords
4) Very easy to generate new replacement passwords
5) The ability to manage multiple password databases through separate email accounts

Disadvantages of Using an Online Password Manager
1) Losing or forgetting the Master Password to the database can lock you out of your passwords
2) Forgetting to log out of the password manager application may expose you to unauthorized access
3) The protection of your password database is only as strong as the protection provided by the online password manager service and the protection that you the user of the password manager employs