LinkedIn, social media darling of financial advisors, recently confirmed a security breach. It was reported that 6.5 million encrypted passwords were compromised and that some were posted on a Russian hacker website.
LinkedIn has invalidated all compromised passwords and notified the impacted members.
While only approximately 10% of LinkedIn’s 161 million user base have suffered from this security breach, it does serve as a healthy reminder to the remaining 90%–create a unique password for every online account you maintain.
Out of sheer convenience, many advisors use the same password for access to social media sites, mobile applications, and even financial accounts. This practice leaves the user vulnerable if the password falls in the wrong hands.
There are many digital tools on the market to help generate strong passwords and organize them more efficiently than with the current method of a sticky note in your top drawer, or a card in your Rolodex.
According to LifeHacker, a wildly popular blog that recommends downloads, websites and digital shortcuts, the best password managers are:
To read LifeHacker’s full review of these password management systems, click here.