There are some ‘tools’ in my life I couldn’t manage without and one of these is Lastpass. As an accountant in a completely cloud based business. I have an alarming amount of different website logins: HMRC (of course), our tax software, Xero, our practice management software, google apps, this website and our company secretarial software to name just a few. And then in addition, we have lots of logins to our client’s accounts and online software applications also. Each site has differing password rules and having tried the ‘single password for all sites’ approach in the past and having got burnt when that password became compromised by a security breach at linked in, I knew that I needed a different way.
I had 2 clients that raved about Lastpass and despite initially being concerned about security I took a closer look. The basic principle is that all your logins and passwords are stored online and accessible via a web extension so your logins can be pre-populated for you as you log in and out of different web applications. The downside this is accessed by a single password so if this becomes compromised (or forgotten) then this is pretty dramatic. However, there is an extra layer of security so before Lastpass will allow access from a computer you haven’t used before it will insist on an email verification and to further secure it you can introduce multi-factor authentication thus requiring verification from a USB key or other device each time you logon. A bit like your banking software. You are also able to share logins with team members without actually giving them the password again ensuring that in a web enabled world organisational security is maintained.
This saves me so much time having to look up passwords! CHeck it out at www.lastpass.com/
Estimated time saved a week: More than 30 minutes!