Should I Write My Passwords Down?
Overall there’s mixed messaging about the security of writing down passwords. One strong argument for them being written down is “It means a hacker from overseas in Russia has no way of accessing those passwords that you have saved on your piece of paper”, and that due to human nature, if we write something down it becomes tangible and we’re more likely to recall where that is. It also enables us to create more complex and varied passwords … well, in theory it does!
There are a fair few downsides though, namely the security risk for theft if it does get stolen, that person has access to everything, not just the items taken. So while the risk of international theft decreases a little, the risk of local theft increases – more so if they’re in the back of your notebook that you carry with you, or in the top drawer of the stand by the front door. There’s also the risk of the paper copy being lost or damaged.
Online password vaults like 1Password, LastPass etc have their place too, but you may likely have read too about the significant cyber-breach one of them recently had too.
A stark reminder there is no fool-proof or absolutely secure place to store data at all. But what we can do is choose to store information on secure platforms, ones that are also compliant with local legislation for both security and privacy, and ones that really understand cyber risk and manage this well.
Here at Holdmine, that is what we do. We have designed the Holdmine platform to be secure from day one, it’s really baked into our DNA. We also review data and cyber breaches, so as to continually improve our security and we’ve been really comfortable that, with the last major breaches for big firms like Optus and LastPass, we have robust policies, practices and the system is designed in ways that we would not have been exposed through the same means they were.
If you do store your passwords on paper, you can always take pictures of the pages and save these securely in Holdmine too so you have a secure back up, and easy, quick access when you need it. So there are pros and cons to physical or digital storage, and one thing we would recommend if you do opt for paper, is not to do so in a book called ‘Passwords’, and to make sure it is stored somewhere safe.
