Weak passwords creating false sense of cybersecurity: LastPass

Despite increased cybersecurity education in the face of growing cyberattacks, consumers continue to choose weak passwords which give them a false sense of security.

Regardless of generational differences across Boomers, Millennials and Gen Z, research reveals a false sense of password security across the board, according to LastPass’ Psychology of Passwords 2022 report.

While 65 per cent of respondents have undergone some form of cybersecurity education – whether it be through school, work, social media, books or online courses – the reality is that 62 per cent of them almost always or mostly use the same password, or variation of the same password.

While 89 per cent of respondents acknowledge that using the same password or variation is a risk, only 12 per cent actually use different passwords for different accounts. At the same time, 62 per cent always or mostly use the same password or a variation. 

Of those who received cybersecurity education, only 31 per cent of people stopped reusing passwords and only 25 per cent started using a password manager, according to the report. Compared to last year, people are now increasingly using variations of the same password, up to 41 per cent in 2022 from 36 per cent in 2021.

Gen Z is most confident when it comes to password management, while also being the biggest offenders when it comes to choosing weak passwords. They believe their password methods to be “very safe”, and are most likely to recognise that using the same or similar password for multiple accounts is a risk, but they still use a variation of a single password 69 per cent of the time.

“Our latest research showcases that even in the face of a pandemic, where we spent more time online amid rising cyberattacks, there continues to be a disconnect for people when it comes to protecting their digital lives,” says Christofer Hoff, Chief Secure Technology Officer for LastPass. 

“The reality is that even though nearly two-thirds of respondents have some form of cybersecurity education, it is not being put into practice for varying reasons. For both consumers and businesses, a password manager is a simple step to keep your accounts safe and secure.”

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