FAIRFAX, Va., Sept. 28, 2016 (GLOBE NEWSWIRE) -- Released on the eve of National Cyber Security Awareness Month (NCSAM), a new survey from LastPass, makers of the world’s most popular password manager and LogMeIn’s principal identity and access management solution, explores the intersection of consumer psychology, behavior and attitudes when it comes to personal passwords. Despite high-profile, large-scale data breaches dominating the news cycle - and repeated recommendations from experts to use strong passwords - the study’s findings reveal that consumers have yet to adjust their own behavior when it comes to password reuse.
The survey, which polled consumers across the United States, Germany, France, New Zealand, Australia and the United Kingdom, highlights the psychology around why consumers develop poor password habits despite understanding the obvious risk, and suggests that there is a level of cognitive dissonance around our online habits.
Your personality will determine why – but not how – you get hacked
When it comes to online security, personality type does not inform behavior, but it does reveal how consumers rationalize poor password habits. Among key findings around personality types and online behavior, nearly half of respondents who identify as a Type A personality did not believe that they are at an increased risk by reusing passwords because of their own proactive efforts, which implies their behavior stems from their need to be in control. In contrast, more than half of respondents who identify as a Type B personality believe they need to limit their online accounts and activities due to fear of a password breach. By convincing themselves that their accounts are of little value to hackers, they are able to maintain their casual, laid-back attitude towards password security. This suggests that while personality types didn't factor into the end result of poor password habits, it does provide insight around why people behave this way.
Password Paradox: You know it’s bad but you do it anyway
The survey revealed that the majority of respondents understand that their digital behavior puts them at risk, but do not make efforts to change it. Only five percent of respondents didn't know the characteristics of a secure password, with the majority of respondents understanding that passwords should contain uppercase and lowercase letters, numbers and symbols. Furthermore, 91 percent of respondents said that there is inherent risk associated with reusing passwords, yet 61 percent continue to use the same or similar passwords anyway, with more than half (55 percent) doing so while fully understanding the risk.
What consumers prioritize when it comes to passwords
Consumers continue to fall short in their password creation. The survey findings show that when attempting to create secure passwords, 47 percent of respondents included family names or initials. Another 42 percent contain significant dates or numbers and 26 percent use the family pet - all information that is generally easily obtainable through social media sites or a casual acquaintance.
Additionally, consumers prioritize their password strength based on which accounts they believe need to be the most secure. Respondents indicated that they create the strongest passwords for financial (69 percent), followed by retail (43 percent), social media (31 percent) and entertainment (20 percent). While it may seem counterintuitive to prioritize all of these accounts at the same level, the Identity Theft Resource Center reports that just 21 financial institutions have been breached in 2016 out of more than 657 businesses. If passwords are being reused across accounts, cybercriminals who hack a lower-prioritized account can easily gain access to something that is more critical, like a savings or credit card account.
“Developing poor password habits is a universal problem affecting users of any age, gender or personality type,” says Joe Siegrist, VP and GM of LastPass. “Most users admit to understanding the risks but continue to repeat the behavior despite knowing they’re leaving sensitive information vulnerable to potential hackers. In order to establish more effective defenses, we need to better understand why individuals act a certain way online and a system that makes it easier for the average user to better manage their password behavior.”
- Executive summary: http://lastpass.tech/6002B7yvm
- Infographic: http://lastpass.tech/6000BAzOr
- Blog post: http://lastpass.tech/6000B7yak
The Psychology of Passwords survey was commissioned by LastPass and fielded by independent panel research firm Lab42 from May 4-18, 2016. The responses were generated from a survey of 2,000 adults, ages 18+ who have at least one online account. Survey respondents represented the United States, Germany, France, New Zealand, Australia and the United Kingdom.
LastPass is an award-winning password manager that helps millions around the world organize their online lives. LastPass provides secure password storage to make going online easier and safer, supporting all browsers, platforms and mobile devices. LastPass Enterprise scales Single Sign-On and password management for teams small and large, with the security businesses need and the convenience of one-click access that employees expect. Founded in 2008, LastPass is headquartered in Fairfax, Virginia and is a product of LogMeIn (NASDAQ:LOGM). For more information, visit https://lastpass.com.
LastPass is a trademark of LogMeIn in the U.S. and other countries.
Lauren Van Dam (781) 897-1328 Press@LogMeIn.com