My1login predicts password management tools will go mainstream within 12 months

Recent password leaks may increase management tool usage
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Cloud-based password managing company my1login has predicted that the recent LinkedIn and Last.fm password leaks will help push online password management applications into the mainstream consciousness.

Mike Newman, CEO of my1login, said: "With each new hacking incident, individuals and businesses are finally waking-up to the idea that cybercrime has become a day-to-day threat and that increased password security management is absolutely essential. I predict that password management tools will be as familiar a concept as virus scanning within a year."

With many people seeming to use the same or only slightly different passwords across multiple social media and email accounts, Newman offers this advice to business owners and individuals: “Companies must take immediate action to minimise the threat and mitigate against future security breaches. Prevention is better than cure and individuals should take steps to protect both themselves and their business. The approach to mitigating risk is twofold: use a strong password and don’t use it more than once.”

My1login aims to help people create secure passwords for each different account that they use. "The site completely eliminates the need to memorise multiple usernames and passwords while helping users increase their online security by generating long complex passwords for all of your online accounts. You then access the various accounts via my1login from then on," explained Newman.

Will you be signing up to use a password management tool for your business or personal accounts? Let us know your thoughts in the comment section below.

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