Solved How safe/secre are password managers?

February 1, 2020 at 16:35:30
Specs: Windows 8.1
I'm considering using a password manager program but am leery about entrusting all my log in abilities to some program that if it was hacked I could suffer irreparable damage to confidential info. Is there anyone who has taken the time and effort to test the major players and verify they are as good as they claim to be? Do any of them offer "iron clad" guarantees that if they get breached and consequently I get breached, they will financially compensate me (and do so adequately)? Or is it still best to be your own password manager/keeper?

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#1
February 1, 2020 at 16:51:20
✔ Best Answer
Or is it still best to be your own password manager/keeper?

I'd go that route.

Just about anything can be hacked if the hacker is determined and skilled enuff. Just look at reports of "break ins/hacks" across the assorted national government and commercial sites and you'll see nothing is really safe/secure; unless it's in a locked Faraday cage room, not online; not powered up; and an armed guard wtih authority to use deadly force to protect the computer in that room...

Password managers are convenient I know but do you "really need to go there; and trust that "no-one" will gain access? If it would cost you dearly should such an app be breached... then don't go there.


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#2
February 1, 2020 at 16:59:34
I don't know of any software developer that will "compensate" in case of breach. They would be bankrupt in no time by all the fabricated claims (of hackers). I use Bitdefender's wallet for safekeeping most of portal logins. My bank-accounts access have 2 way authentication. Again use Bitdefender's "iron Clad" browser for secure access (so they claim).
If you this paranoid, your best option is pen and paper or better; your memory! if you still have one!

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#3
February 1, 2020 at 17:52:37
"...but am leery about entrusting all my log in abilities to some program that if it was hacked I could suffer irreparable damage to confidential info."

Sounds like you answered your own question right there. I share the same opinion ...

"Channeling the spirit of jboy..."


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#4
February 3, 2020 at 06:18:18
Basically, it is a good idea to use a password manager ...

... BUT, just like an iron safe in a bank, a password manager is going to be the first thing hackers will try to break.

So, if you choose a password manager, you better choose a good one. Or, the best one. But the real question will remain to be: is that one good enough ?

In my mind, I would say no, because all it takes is time and CPU-resource, and you can break anything. Keep in mind computers become faster and faster, and, if you run things in parallel, things get calculated quicker. This is where the real power is: parallel processing.

But, back to your question: if I had ALL of my passwords in 1 password manager ... I wouldn't trust that. No matter what they say.

I also follow the idea that you should not store your password and your "tool/application" on the same device. By that, I have just removed any computer-based solution from the solution.

So, your "password manager", it is assuming the best storage for passwords is in an application.

Is that true ?

I think not. Just think about this:
- How many times did people try, or actually break in your computer ?
- How many times did people try, or actually break in your house ?


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#5
February 4, 2020 at 09:28:07
Looge - re: your 2 questions about breaking into my computer and breaking into my house - good analogies. So far no one has tried to break into my computer that I'm aware of however, someone did try to break into my house but was not successful due to the type of deadbolt lock I installed. I found out that the Medeco brand of locks were superior to any other brands (and were priced accordingly) but it was worth the extra cost as their lock proved undefeatable by the thief and the contents of my house remained protected. I was hoping that someone has tested Password Managers like the locks and therefore there might be one or two that could be relied on above all the others. Guess that hasn't happened yet.

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#6
February 4, 2020 at 10:25:32
I was hoping that someone has tested Password Managers like the locks and therefore there might be one or two that could be relied on above all the others. Guess that hasn't happened yet.

Perhaps a fone call to (or a chat over coffee 'n cake/cookies with) the your local Moscow/FSB resident, or the equivalents from Iran, N. Korea, China to name a few... might be informative in that regard? Possibly even to Cheltenham (UK) and the various EU types as well?


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