More than half of people re-using passwords

Lax password practices continue to pose risks for Australian companies, according to new research from LogMeIn.

A survey of internet users in Australia, the US, France, Germany and the UK found that despite heightened global awareness of hacking and data breaches in the wake of several high-profile and damaging attacks, password behaviours remain largely unchanged.

While 91% of surveyed people know that using the same password for multiple accounts is a security risk, 59% continue to do so.

In addition, 47% say there is no difference in passwords created for work and home accounts, with only 19% creating secure passwords for work and 62% at least sometimes re-using the same password between work and personal accounts.

Respondents are also slow to update their passwords, with 53% reporting not having changed passwords in the past 12 months.

Top reasons for re-use of or retaining passwords include fear of forgetfulness (61%) followed by a desire to be in control of all their passwords (50%).

Finally, while 72% of respondents believe they are informed on password best practices, 64% of these say having a password that’s easy to remember is the most important factor.

“The cyber threats facing consumers and businesses are becoming more targeted and successful, yet there remains a clear disconnect in users’ password beliefs and their willingness to take action,” LogMeIn CTO of Identity and Access Management Sandor Palfy said.

“Individuals seem to understand password best practices, but often exhibit password behaviours that can expose their information to threat actors. Taking a few simple steps to improve how you manage passwords can lead to increased safety for online accounts whether personal or professional.”

Image credit: ©stock.adobe.com/au/lekkyjustdoit

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