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Using the same password on multiple sites?


We all do it …use the same password for virtually every website that we use. We know it’s not safe especially when there are password thieves that crack into Yahoo! LinkedIn and now Dropbox. We then change our password for the offending site and if we are smart, change them everywhere else. The thieves that broke into Dropbox know that you use the same password for Facebook and probably your bank account. Today I experimented with a free password manager plug-in called LastPass. You can see it here https://lastpass.com/

LastPass is a browser plug-in that remembers all of your online passwords. All you need to do is to remember one master password which is encrypted and stored locally on your hard drive. LastPass can generate those really strong and impossible to remember passwords that sites suggest for maximum security. Once you’ve logged into LastPass, you can auto-fill the screen names and passwords of all your websites. It’s a bit of a pain but you need to go to each of your websites and change your password. When you want to type in the new password, you just hit Alt + g and LastPass generates a random password. There’s no need to remember it because LastPass does it for you. Just be sure to log out of LastPass at the end of the day. BTW, I found that I’ve logged into 56 different websites from my office computer …virtually all with the same password…not a smart thing to do. If you’re really paranoid, you could use multi-factor authentication but I just can’t bring myself to use a computer generated random number every time I want to visit a website. Safe surfing!

Tim O’Loughlin

Eastward Capital Partners

432 Cherry Street

West Newton, MA 02465

o: (617) 762-3611

c: (617) 947-6272

http://www.eastwardcp.com

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Eastward Capital Partners – providing $1 – 10 million venture debt, growth capital and equipment financing to venture-backed, emerging growth companies since 1994. We also provide expansion capital to non venture backed companies.

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About venturedebt

venture debt firm providing growth capital for emerging growth companies

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Tim O’Loughlin

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