Passwords offer protection, of course, but with 58 percent of Americans having at least five unique online passwords and 30 percent having 10 or more, how is the average consumer supposed to keep track?
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That is where password managers come in. Password managers like LastPass, KeePass and Dashlane let you store log-in information for numerous websites, protecting all that information with a single master password. All you need to remember is that master password. The manager keeps track of all the individual passwords you store with it, and some will even give you assessments on the strength of your passwords. Some password managers save your information in the cloud, while others, like RoboForm, store your passwords locally.
Lance James, head of cyber intelligence at Deloitte & Touche, argued that the rise of password managers is a plus on several levels. He said he doubts the password managers will eliminate cyberfraud, but when consumers use the managers, "it's making them more aware, and that's good. It's like being aware of crime in your neighborhood."