Stolen or compromised credentials are the leading cause of data breaches, but password-based authentication isn’t going away anytime soon. With more than 80 percent of organizations still depending on them, passwords are easily the most prevalent method of user authentication.
Because there remains little appetite for passwordless authentication or other identity alternatives, companies must take steps to improve password security. That need is driving the steady adoption of credential management solutions that harness a variety of tools to boost password protection. A recent analyst report predicts the credential management market will more than quadruple to reach a valuation of more than $6 billion over the next 10 years.
Credentials management solutions typically provide a centralized platform for securely storing, managing and controlling access to user credentials. They enable administrators to enforce security policies, monitor user access and conduct periodic audits to identify potential vulnerabilities. They usually incorporate features like strong encryption for password storage, multifactor authentication (MFA) support and robust password policies.
WatchGuard’s new AuthPoint Credentials Management is one of the more feature-rich solutions available today. In addition to the award-winning AuthPoint MFA solution and the Corporate Password Manager, the solution includes single sign-on (SSO), risk-based authentication and Dark Web monitoring services. These products work in concert to provide full identity security, allowing organizations to give verified users system access with complete confidence.
Here’s a closer look at the solution’s key features:
AuthPoint MFA
Delivered through WatchGuard Cloud, AuthPoint MFA makes it easy to configure and manage offline and online verification methods and access policies across endpoints, VPNs and web applications. It’s also easy to set up SSO application portals across multiple customer deployments. AuthPoint goes beyond traditional username and password authentication. It incorporates security measures such as one-time passwords (OTP), push notifications and biometric verification. These additional authentication factors significantly reduce the risk of unauthorized access, even if a user’s credentials are compromised.
Corporate Password Manager
The easy-to-use password manager tool generates 16-character passwords that are virtually impossible to crack. It helps reduce password reset requests because users don’t have to remember all their passwords — they are stored in a secure, digital vault and auto-filled through browser extensions for Microsoft Edge, Google Chrome, Apple Safari and Firefox. Users only need one unique, complex password to open the vault and access and decrypt the credentials inside. When users need to access their apps, they can retrieve their passwords using the AuthPoint mobile app for iOS and Android and/or the browser extension to auto-fill credentials. This creates a smoother overall single sign-on experience.
Dark Web Monitoring
Researchers recently reported that nearly 25 billion complete sets of usernames and passwords are currently for sale on the dark web. WatchGuard’s monitoring service continuously scans cybercriminal marketplaces to identify any corporate credentials, email addresses or sensitive information being traded or sold. If compromised credentials are detected, the service alerts administrators so they can take proactive measures such as password resets to mitigate potential risks. Up to three domains can be monitored for compromised credentials.
Conclusion
Because most organizations will rely on password-based authentication for years to come, enhanced password security has become an operational imperative. Password managers that generate and securely store unique passwords are a step in the right direction. However, WatchGuard’s comprehensive credential management solution offers much stronger protection by incorporating a variety of additional security features. Contact the security pros at Verteks to learn more about using the WatchGuard tools to safeguard user credentials and protect your systems from unauthorized access.
