Update your master password if you use LastPass: Alert Priority High
17 June 2015
Users of LastPass password manager products are reminded to update their master password following a security breach at the organisation.
LastPass this week sent an email to users warning of ‘suspicious activity’ on its network and that data such as email addresses and password reminders ‘had been compromised’.
The business said that while it believed its encryption algorithms were strong enough to protect its users, it would require them to verify their identity by email when logging in from a new device or IP address, and would prompt them to update their master password.
LastPass experienced a potential breach in 2011 when the company concluded its servers may have been accessed by a third party, and directed its users to change their master password.
LastPass and other password managers are software tools that help you remember and manage the range of logon and personal information you use online. They can help you ensure that your passwords are strong and unique for every site, and can remember these passwords for you.
Many password managers can also store other personal or financial information that can populate login fields automatically on websites you visit.
For many people, the simplicity, convenience and value of password managers justify their use. Password managers centralise security information into one system – creating both benefits and risks. In particular, it creates the potential for a single point of failure. If the password manager is hacked, all your other systems are potentially exposed.
For most users, the benefits of having to remember just one password outweighs the risk or any threat to date, but each individual should make their decision based on their own circumstances and security requirements.
Situations also change. While you may be comfortable using password managers now, in future this may not be the case. It is important to stay informed about the products and services you use.
Stay Smart Online has more information on protecting yourself here.