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The Lockdown

Thycotic’s Cyber Security Blog

The Password Spreadsheet: why you must NOT store enterprise passwords in Excel

Written by Jordan True

December 6th, 2016

Is your organization still using an Excel password spreadsheet to store and manage sensitive passwords—the keys to your kingdom?

You’re not alone. But storing privileged account passwords and credentials in a spreadsheet poses a serious security risk.

There should be no such thing as a ‘password spreadsheet’

Excel was never intended to be a password manager, so there’s no chance it’s ever going to be the best way to store passwords. Strong mathematical functionality does not equate to strong security.

There is no excuse good enough to justify storing passwords in a spreadsheet

Privileged accounts and passwords must be protected with the highest security possible; and that absolutely must include two-factor authentication.

It’s this simple: the lack of built-in security, data loss, and security updates that you get with a spreadsheet system is making your organization highly vulnerable to attack.

How do you eliminate the risk of using Excel for storing enterprise passwords?

The answer is to switch to a purpose-designed, automated privileged access management solution. A full-featured product built to manage privileged accounts and privileged account access not only provides security, but enables you to focus on other IT operations and enterprise priorities.

The key features of a strong privileged account management solution include:

–  Ability to store, manage and share passwords
–  Top-level security with audit and compliance features
–  Real-time management and disaster recovery

Need buy-in from other members on your team?

Old password management habits are hard to break, but once your company sees the security and functionality that the right privileged account management solution brings to your enterprise, you’ll be the office hero.

And we have the perfect toolkit for you to propose the right solution to your team:

1.) Download the ‘Top Reasons Why Using Excel to Store Privileged Credential Passwords Creates Needless Risk’ white paper for the top 8 reasons why you shouldn’t risk storing passwords in a spreadsheet.

2.) Watch our “Using Excel to Store Privileged Account Passwords: You’ve Probably Already Been Breached” webinar to learn about the risks associated with password spreadsheets; and find out how your system may have already been breached without you even knowing it.

There is no excuse good enough to justify storing passwords in Excel
When you start a free enterprise password management trial—you’re just 15 minutes from finding out why it’s the only way to manage and store your passwords.

Stay safe!

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