83.98 +1.04 +1.25% Volume: 412,589 November 13, 2018

LastPass Psychology of Passwords Report Highlights Password Behavior Unchanged Even as Cyber Threats Rise

May 01, 2018

Data Breaches and Hacking Cause Fear, But Only 55% Would Update Passwords If Hacked

BOSTON, May 01, 2018 (GLOBE NEWSWIRE) -- LastPass by LogMeIn, a leader in password management, today released findings of a new global survey, “Psychology of Passwords: Neglect is Helping Hackers Win,” revealing that despite today’s increased threat landscape and heightened global awareness of hacking and data breaches, password behaviors remain largely unchanged. Data from the survey shows that 91 percent of people know that using the same password for multiple accounts is a security risk, yet 59 percent continue to use the same password. As a result, individuals’ behavior in creating, changing and managing passwords in both their professional and personal lives is slow to match the rapid evolution of cybersecurity threats.

LastPass-Logo-Color (1).jpeg


The global survey, which polled 2,000 individuals across the United States, Australia, France, Germany, and the United Kingdom, provides evidence that increased knowledge of security best practices doesn’t necessarily translate into better password management, and highlights regional, generational and personality differences can factor into password security.

Key findings include:

  • Global Cyber Threats Skyrocket but Password Behaviors Unchanged
    Password behaviors remain largely unchanged from the same study conducted two years ago — translating to some risky behaviors. 53 percent report not changing passwords in the past 12 months despite a breach in the news. And while 91 percent know that using the same password for multiple accounts is a security risk, 59 percent mostly or always use the same password.
  • Fear of Forgetfulness = Number One Reason for Password Reuse
    Not only do most respondents (59 percent) use the same password for multiple accounts, but many continue to use that password as long as possible — until required by IT to update or if impacted by a security incident. The fear of forgetfulness was the number one reason for reuse (61 percent), followed by wanting to know and be in control of all of their passwords (50 percent).             
  • Attention IT: Password Behaviors Same at Work and Home
    The majority of respondents (79 percent) report having between one and 20 online accounts for work and personal use. When it comes to password creation, nearly half (47 percent) say there is no difference in passwords created for these accounts. Only 19 percent create more secure passwords for work and 38 percent never reuse the same password between work and personal, which means that 62 percent do.
  • Type A Personalities Take Passwords More Seriously
    Bad password behavior in Type A personalities stems from their need to be in control, whereas Type B personalities have a casual, laid-back attitude toward password security. Respondents who identify as Type A personalities are more likely than Type B personalities to stay on top of password security: 77 percent put a lot of thought into password creation, compared to 67 percent of Type B. And Type A users consider themselves informed about password best practices (76 percent) over Type B users (68 percent).             
  • Security-conscious Thinking Doesn’t Translate to Action
    The data showed several contradictions, with respondents saying one thing and in turn, doing another. 72 percent say they feel informed on password best practices, but 64 percent of those say having a password that’s easy to remember is most important. Similarly, 91 percent recognize that using the same or similar passwords for multiple logins is a security risk, yet 58 percent mostly or always use the same password or variation of the same password.

“The cyber threats facing consumers and businesses are becoming more targeted and successful, yet there remains a clear disconnect in users’ password beliefs and their willingness to take action,” said Sandor Palfy, Chief Technology Officer of Identity and Access Management at LogMeIn. “Individuals seem to understand password best practices, but often exhibit password behaviors that can expose their information to threat actors. Taking a few simple steps to improve how you manage passwords can lead to increased safety for online accounts whether personal or professional.” 

Resources

Survey Methodology

The Psychology of Passwords survey was commissioned by LastPass and fielded by independent panel research firm Lab42 from February 8-21, 2018. The responses were generated from a survey of 2,000 adults, ages 25 to 60 who have at least one online account. Survey respondents represented the United States, Germany, France, Australia and the United Kingdom. Where possible, results were compared with the 2016 Psychology of Passwords survey commissioned by LastPass.

About LastPass
LastPass is an award-winning password manager helping millions organize and protect their online lives, at home and at work. For businesses of all sizes, LastPass provides secure password storage and centralized admin oversight to reduce the risk of data breaches and remove password obstacles for employees. With customizable policies, secure password sharing, and comprehensive user management, LastPass gives IT the tools to strengthen password hygiene across the organization. For more information, visit https://lastpass.com.

LastPass is a trademark of LogMeIn in the U.S. and other countries.

About LogMeIn, Inc.
LogMeIn, Inc. (Nasdaq:LOGM) simplifies how people connect with each other and the world around them to drive meaningful interactions, deepen relationships, and create better outcomes for individuals and businesses. One of the world’s top 10 public SaaS companies, and a market leader in communication & conferencing, identity & access, and customer engagement & support solutions, LogMeIn has millions of customers spanning virtually every country across the globe. LogMeIn is headquartered in Boston with additional locations in North America, Europe, Asia and Australia.

Media Contact:
Lauren Van Dam
press@lastpass.com
781-897-1328

Primary Logo

Source: LogMeIn, Inc.
NASDAQ:LOGM
Price 83.98 +1.04 +1.25% Volume: 412,589 Nov 13, 2018 PM ET Pricing delayed 20 minutes> More

Email Alerts

Email *
Mailing Lists *






 
Enter the code shown above.

Investor Contact

Rob Bradley
Vice President of Investor Relations
Phone: (781) 897-0694

InvestorRelations@LogMeIn.com

Disclaimer

You are now leaving LogMeIn's website and are being directed to a website that is operated and maintained by a third party (an "External Site"). LogMeIn does not control the External Site and is not responsible for the data, content or availability of the External Site. This link to the External Site is provided for convenience purposes only. We make no representation or warranty regarding the accuracy of the information contained in the External Sites. We suggest that you always verify the information obtained from linked websites before acting upon this information. Also, please be aware that the security and privacy policies on this External Site may be different than LogMeIn’s policies, so we encourage you to read any third party privacy and security policies closely.

LogMeIn’s filings with the U.S. Securities and Exchange Commission, or SEC, including LogMeIn’s annual reports on Form 10-K which include our audited financial statements, are available on LogMeIn’s Investor Relations website at https://investor.logmeininc.com/about-us/investors/financials/sec-filings/default.aspx free of charge. The data and other content contained on the External Site are not meant, and should not be used, as a substitute for information contained in LogMeIn’s filings with the SEC or disclosed through other channels used by LogMeIn to comply with its disclosure obligations under Regulation FD. The reports contained on the External Site may contain forward-looking information about LogMeIn’s future financial performance and results. Please note that the information presented on the External Site is deemed representative at the time of its original release and that changes in historical information may occur. LogMeIn undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee these results. We caution you to consider the risk factors described in our SEC filings, which could cause actual results to differ materially from the forward-looking statements disclosed on the External Site.

Non-GAAP Information

The External Site may contain certain non-GAAP and pro forma non-GAAP financial measures, in addition to financial measures determined in accordance with GAAP. “GAAP” refers to generally accepted accounting principles in the United States. The non-GAAP financial measures contained on the External Sites are not prepared in accordance with GAAP and may not be comparable to non-GAAP financial measures used by other companies. The non-GAAP information should be considered in addition to, but not as a substitute for or superior to, other measures of financial performance prepared in accordance with GAAP. LogMeIn urges investors to review the reconciliation of its non-GAAP financial measures to the comparable GAAP financial measures, which it includes in press releases announcing its quarterly financial results, and not to rely on any single financial measure to evaluate the Company's business. Reconciliation tables of the most comparable GAAP financial measures to the non-GAAP measures are included in LogMeIn’s quarterly press releases, which can be found in the Financials section of LogMeIn’s investor relations website under “Quarterly Results.”

By clicking “Accept”, you acknowledge that you have read and understand the information set forth above and agree that you will not misrepresent any calculation derived from the data or other content contained on the External Site as LogMeIn’s or otherwise.