Today, password management solution provider LastPass released “The 2018 Global Password Security Report.” The report analyzed and ranked 43,000 enterprises spanning industries, verticals, and sizes that incorporate the LastPass business password manager in their security policies. LastPass’ goal is to get a better understanding of modern password practices.
To standardize the data they compiled, LastPass gave each enterprise a security score ranging from 0 (Poor) to 100 (Exceptional). These scores are based on criteria such as the number of duplicate passwords, multifactor authentication, and the average strength of each password in the organization.
Here are some of the key findings from the 2018 Global Password Security Report by LastPass:
- The average security score was 52 (Fair), indicating enterprises are only performing the minimum of password security.
- The average password security score decreased as enterprises scale upwards. Enterprises with 25 or fewer employees had an average score of 50, while those with over 500 employees had an average score of 46.
- As industries, Retail, Manufacturing, and Insurance had the lowest password security scores on average (48, 48, and 47 respectively). Technology and Software as an industry had the highest average with 53.
- 45% of enterprises are using multifactor authentication, an increase from 2017’s 24.5%. Small enterprises have embraced MFA more thoroughly than large enterprises.
Ultimately, LastPass believes some enterprises are excelling in password security, but many are still suffering from password duplication and weak passwords. Enterprises appear to be struggling far more overall with password security than SMBs. LastPass speculates that enterprises are often more constrained by competing priorities and bureaucratic red tape than SMBs.
You can read LastPass’ 2018 Global Password Security Report in full here.
Other Resources:
The 10 Best Privileged Access Management Platforms of 2018
The 10 Coolest IAM and Identity Security CEO Leaders
Privileged Access Credentials (With Identity Automation)
The Importance of Edge Use Access (With Identity Automation)
Managing Third-Party Privileges with Identity Automation
IAM vs CIAM: What’s the Difference?
The Role of Identity in Digital Transformation
The Current State of Biometric Authentication in IAM
Comparing the Top Identity and Access Management Solutions
The 32 Best Identity and Access Management Platforms for 2018
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Ben Canner
Ben Canner is an enterprise technology writer and analyst covering Identity Management, SIEM, Endpoint Protection, and Cybersecurity writ large. He holds a Bachelor of Arts Degree in English from Clark University in Worcester, MA. He previously worked as a corporate blogger and ghost writer. You can reach him via Twitter and LinkedIn.
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