In the fourth annual study of the Password Manager Industry by SecurityOrg, it was found that very little has changed about people’s habits when it comes to managing their online accounts and passwords. The study was done among 1,000 Americans and explored different factors when it comes to adoption of password managers, its impact and what area of digital security do people prioritize the most.
According to the study, 36% of the respondents are using a password manager in 2024 to simplify their personal cybersecurity, and store and auto-fill their passwords. It is a 2% increase from 2023 and 15% increase from 2022. The study also found out that 29% of the US adults had their login details or online identity stolen in the past year.
There are different methods adults are using to manage their multiple passwords in 2024. The most used method is memorization of passwords (51%), followed by using a password manager (36%). Some people also have their passwords saved in browsers (34%) and some have noted them down on their computers or mobiles (26%).
The National Institute of Science and Technology (NIST) has given some guidelines about making a strong password. They say that a password made up of a collection of unrelated words without space is stronger than a password which uses unusual characters. Many people are also saving their passwords in browsers which is an unsafe way as most of the times it lacks encryption and versatility. The least used method to manage passwords is using security passkeys. 10% of Americans are using this method and it has a low adoption rate right now as it is a newer method to save passwords.
The study also talked about most popular password managers in 2024. Google Password Manager is dominating right now with 32% of American adults using it in 2024, followed by Apple’s iCloud Keychain or Passwords app being used by 23% of people. Other password managers like LastPass, Bitwarden, NordPass and 1Password are declining right now. The respondents were asked why they chose the password managers they are using right now. The majority answered that the password manager they are using right now is easy to use and has user-friendly integration. Some said that their trust and familiarity with password managers/companies is the reason they are using it while some used password managers because of recommendations and reviews from other people. Some also use their chosen password manager because of extra security and synchronization they provide to its users.
Respondents were also asked how much the password manager they are using costs them. 79% said that the password manager they are using is free, while 7% pay $1-$20 per year for their password manager. Only 1% of the respondents were paying $60 for a password manager per year. The study also covered the reasons why people use password managers. Most people use password managers because they have more passwords than they can remember correctly (78%). 67% said that they use password managers to login across different devices. 55% also used password managers to generate complex passwords.
They also found that people without password managers are twice as likely to experience identity theft than people with password managers. Most of the people are also using password managers on laptop or desktop computers (90%) while 83% are using it on mobile phones in 2024. Only 36% are using password managers on their tablets. In 2024, 61% of the people are using password managers for their work and personal use, 38% are using it for personal use only and 1% are using it for work only. It is seen that people have started using password managers for their work as well over the past years, instead of just using them for personal use. 76% said that they will consider using a password manager in the future, while 24% answered with no.
Upon asking the reason why some people are not using password managers, 37% said they don't think that they need one, 23% said that they don't believe that they are secure, 16% are not sure about how they work and 9% believe that they cost too much. Some also think that password managers are confusing or complicated.
Read next: Gartner Warns 40% of Data Centers May Face Power Shortages by 2025 Amid AI Surge
According to the study, 36% of the respondents are using a password manager in 2024 to simplify their personal cybersecurity, and store and auto-fill their passwords. It is a 2% increase from 2023 and 15% increase from 2022. The study also found out that 29% of the US adults had their login details or online identity stolen in the past year.
There are different methods adults are using to manage their multiple passwords in 2024. The most used method is memorization of passwords (51%), followed by using a password manager (36%). Some people also have their passwords saved in browsers (34%) and some have noted them down on their computers or mobiles (26%).
The National Institute of Science and Technology (NIST) has given some guidelines about making a strong password. They say that a password made up of a collection of unrelated words without space is stronger than a password which uses unusual characters. Many people are also saving their passwords in browsers which is an unsafe way as most of the times it lacks encryption and versatility. The least used method to manage passwords is using security passkeys. 10% of Americans are using this method and it has a low adoption rate right now as it is a newer method to save passwords.
The study also talked about most popular password managers in 2024. Google Password Manager is dominating right now with 32% of American adults using it in 2024, followed by Apple’s iCloud Keychain or Passwords app being used by 23% of people. Other password managers like LastPass, Bitwarden, NordPass and 1Password are declining right now. The respondents were asked why they chose the password managers they are using right now. The majority answered that the password manager they are using right now is easy to use and has user-friendly integration. Some said that their trust and familiarity with password managers/companies is the reason they are using it while some used password managers because of recommendations and reviews from other people. Some also use their chosen password manager because of extra security and synchronization they provide to its users.
Respondents were also asked how much the password manager they are using costs them. 79% said that the password manager they are using is free, while 7% pay $1-$20 per year for their password manager. Only 1% of the respondents were paying $60 for a password manager per year. The study also covered the reasons why people use password managers. Most people use password managers because they have more passwords than they can remember correctly (78%). 67% said that they use password managers to login across different devices. 55% also used password managers to generate complex passwords.
They also found that people without password managers are twice as likely to experience identity theft than people with password managers. Most of the people are also using password managers on laptop or desktop computers (90%) while 83% are using it on mobile phones in 2024. Only 36% are using password managers on their tablets. In 2024, 61% of the people are using password managers for their work and personal use, 38% are using it for personal use only and 1% are using it for work only. It is seen that people have started using password managers for their work as well over the past years, instead of just using them for personal use. 76% said that they will consider using a password manager in the future, while 24% answered with no.
Upon asking the reason why some people are not using password managers, 37% said they don't think that they need one, 23% said that they don't believe that they are secure, 16% are not sure about how they work and 9% believe that they cost too much. Some also think that password managers are confusing or complicated.
Read next: Gartner Warns 40% of Data Centers May Face Power Shortages by 2025 Amid AI Surge
