A Strategy to Get Started with an Information Security Program: Best Practices for Passwords and Account Security

June 23, 2021 | Authored by Dopkins Assurance Services Group

Published June 23, 2021 – In our previous blog on the cost of a data breach, we discussed that compromised credentials are both the most frequent and most costly threat vector for organizations, stressing the need for secure passwords.  Most times a password is the ONLY protection for your data.  This blog will take a look at the best practices around passwords and account security including things you should and should not be doing.

How do accounts become compromised?

There are several ways a user’s password can become compromised.  Below are a few of the most common:

  • Phishing attack

    • In a phishing attack, employees could be tricked into entering their password on a malicious site. In our previous blog covering Cybersecurity Awareness Training, we discussed phishing and how training employees can make them less vulnerable to this type of attack.
  • Exposed in previous breach

    • The goal of many attacks is to steal credentials so they can be used to access other accounts. Attackers will try stolen username/password combinations against many different sites in the hopes to gain access, in what is known as Credential Stuffing.
  • Easily guessed

    • Attackers will attempt Password Spraying, which is using lists of commonly used passwords, to gain access.
    • Based on research by NordPass (https://nordpass.com/most-common-passwords-list/) the ten most used passwords of 2020 were: 123456, 123456789, picture1, password, 12345678, 111111, 123123, 12345, 1234567890, senha (Portuguese for password).
      • 8/10 of these have been used over 2 million times and can be cracked in less than a second.
      • 5/10 were on the top ten from 2019.
  • Brute Force

    • Attackers will use programs to keep guessing using every combination of characters.
    • This method is more difficult than the previous three because it usually takes more time, technical expertise and can be expensive.

Ways to prevent compromise

  • Use long passwords

    • Minimum of 12 characters, but 16+ is best.
    • 8-character passwords can be cracked in about 3.5 hours, 12 characters take about 177 years, 16 characters take over 81 million years.
    • Protects against Brute Force attacks.
  • Use Passphrases, not passwords

    • Could be from a past memory that only you would know. Things that are funny are easier to remember.
    • Examples:
      • I’m dreaming of a white Christmas [33 characters with spaces]
      • From the Halls of Montezuma [27 characters with spaces]
    • Easier to remember than typical (and short) complex password like: uX76$!6wcZ
    • Protects against Password Spraying, additional protection against Brute Force attacks.
  • Use sequence of four or more random and unrelated words.

    • Do not use anything that is public knowledge or easily guessable (especially pet or children names)
    • Examples:
      • posing granular repulsion crown [31 characters with spaces]
      • negative trombone goon serpent [30 characters with spaces]
    • Easier to remember than typical (and short) complex password like: uX76$!6wcZ
    • Protects against Password Spraying, additional protection against Brute Force attacks.
  • Do not re-use passwords

    • Visit the site haveibeenpwned.com to see if your email or phone number are linked to a data breach.
      • Exposed passwords will be used to access your other accounts. Immediately change the password for any account that has been exposed.
    • Protects against Credential Stuffing.
  • Do not store passwords on your computer, within your email/contacts, or on hand-written notes near (or especially attached to) your PC.

    • If your PC or email account is compromised the file can be stolen and all your accounts are at risk.
    • Notes at your computer allow anybody to walk up and sign in to your accounts.
    • Hand-written passwords should be locked in a secure place.

Additional Recommendations

  • Use a credential manager

    • Not the same as saving in your web browser, which can also be stolen.
    • Will store long passwords so you do not have to memorize them. This allows each account to be unique so there is no re-use.
    • Most have password generators so they are truly random.
    • This account is secured by one long passphrase and multi-factor authentication.
  • Enable Multi-Factor Authentication (MFA)

    • Uses more than one of the following factors to authenticate:
      • Something you KNOW (passphrase, PIN)
      • Something you HAVE (security token, bank card)
      • Something you ARE (biometrics: fingerprint, retina scan)
    • Should be enabled on all accounts that offer the option.
    • Frequently used:
      • Text/email code
      • Authenticator app
      • Physical authenticator/token
    • Does not eliminate need for good passwords.
  • Account recovery questions

    • DO NOT use them as intended.
      • Most are guessable, especially with the amount of information shared or compromised on the internet.
    • Create unrelated passphrase or long generated password for each question.
      • Store these in your credential manager.
    • Make up answers that are not accurate which are not easily guessable or publicly known.
      • Pet: Rover
      • School: Hard Knocks
  • Remove phone number as recovery method

    • Phone numbers are not secure and can be simulated.
    • Old number stays attached to accounts if you get a new one.
    • Rely on your strong passphrases and use of credential manager.

Check out our STARTegy page for more information about our Strategy for Getting Started with Information Security.

About the Author

Dopkins Assurance Services Group

Dopkins offers a full range of assurance services that can help improve your financial accuracy. From financial report preparation and audits of historical financial statements to preparation of an array of special attestation reports—we can help translate numbers into accurate management information so you can make knowledgeable decisions. For more information, contact Bart McGloin, CPA, CFE, CFF at bmcgloin@dopkins.com.

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