Santa Barbara, California –(Business Wire) — Bitwarden, the leading open source password manager for businesses and individuals, today announced the results of its 2023 Password Decision Survey. The survey, which surveyed 800 IT decision makers across a variety of industries, shows that passwordless technology is here to stay, with businesses enthusiastic about its perceived security benefits and improved user experience (UX).
According to the survey, about half of respondents deploy or plan to deploy passwordless technology. Of this percentage, 66% have 1-2 user groups or more teams using passwordless technology, and 13% have deployed to the entire organization.
Demand for C-Suite-driven security protocols remains
Businesses are facing numerous post-pandemic security challenges: increased employee turnover, a mixed workforce that relies on multiple devices in many different locations, and seemingly endless threats from cybercriminals. Given these challenges, more than three-quarters (79%) of IT decision makers want employees to use the same enterprise-grade password manager. 60% cite security as the most important attribute of a good password manager, followed by 2FA (56%) and ease of use (40%) integration. With many employees here doing hybrid and remote work, the lines between work and home safety habits have blurred. The majority (71%) of employees are “very likely” to use a password manager with a supplemental family account to add security to their family at home if provided by their company.
Security Issues Affecting Business Decisions
60% of respondents said their organization had experienced a cyberattack, up from 54% last year. In response, the majority (80%) now have a ransomware mitigation strategy in place, up from 75% last year. Cyber insurance has also become commonplace, with three-quarters (75%) of people having coverage. Of those who did, 65% needed to demonstrate that they provided cyber awareness training to employees, 64% needed to deploy MFA, and 61% needed to provide a company-wide password manager.
Bad Habits and Best Practices
Almost all respondents (92%) use 2FA in the workplace, up from 88% last year. However, almost the same percentage are also jumbo passwords (90%). While the majority (84%) use a password manager, they also use a document (54%) or memory (45%) on their computer to manage their passwords. Respondents also continued to rely on insecure methods for sharing passwords, such as sharing online documents (38%) and email (41%). Despite their security-centric focus, 32 percent admitted to engaging in “shadow IT” practices, and about half (49 percent) of respondents said their organizations had been grappling with employee shadow IT practices.
More Insights on Passwordless Technology
When asked why their organization is not transitioning to passwordless technology, 39% of respondents claimed that end users are reluctant to make the switch, and 49% said the applications they use were not designed to be passwordless. Of those making the switch, 51% are or will consider implementing passwordless authentication for “your identity” (face, fingerprint, voice). Half (47%) say they are very familiar with the FIDO2 passwordless authentication standard and consider it important to their company’s passwordless experience.
“It’s no surprise that our survey shows that businesses are moving beyond passwords and are eager for new technologies that reflect passwordless workflows,” said Michael Crandell, CEO of Bitwarden. “While strong and unique passwords Very effective in protecting data, but there are serious vulnerabilities to weak or reused passwords that are not managed by end-to-end encrypted password managers. The Bitwarden approach takes this evolution into account, but also reflects adoption timelines that vary by company, technology Depending on end-user preference, security remains a top priority for individuals and businesses alike.”
Methods and full findings
Independently conducted by Propeller Insights, the survey surveyed 400 US and 400 UK IT decision makers on workplace password practices and perceptions of password security and overall cybersecurity.
For full investigation details, download the full report.
Password security for everyone
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Bitwarden enables organizations and individuals to securely store and share sensitive data. With a transparent, open-source approach to password management, Bitwarden makes it easy for users to extend strong security practices to all of their online experiences — wherever you go, on any device. Cloud and self-hosted options give customers the flexibility to meet the most stringent security requirements. Available in over 50 languages, Bitwarden has a passionate global community of security experts and enthusiasts. The company is headquartered in Santa Barbara, California, with a global team. Learn more at bitwarden.com.