Why You Should Avoid Using Browser Password Vaults

In the second part of our Cybersecurity Awareness Month blog series, CISO Genady Vishnevetsky focuses on the danger of convenience when it comes to storing passwords. Learn how predatory fraudsters target unsuspecting victims to steal credentials.

In today's digitally driven world, convenience often trumps security. One such example is the widespread use of browser password vaults and the synchronization of these vaults across multiple devices. While these features offer unparalleled ease of access, they come with significant risks that users must be made aware.

What is a browser password vault?

Have you ever created a new account and your browser, say Google, asks if you’d like to store the password? Browser password vaults are designed to store and manage passwords for various online accounts. They offer the convenience of auto-filling login credentials, saving users from the hassle of remembering multiple passwords. This functionality is especially appealing in an era where individuals juggle numerous online accounts, from social media and banking to email and e-commerce.

Modern browsers also allow users to create an account for the respective platform (Google for Chrome, Microsoft for Edge, Firefox). The marketing pitch? Ease of use. Creation of the account allows all your bookmarks, history and passwords to synchronize across multiple devices. This means that once a password is saved on one device it becomes accessible on all synchronized devices, whether it’s a smartphone, tablet or another computer. This seamless integration ensures that users can log into their accounts effortlessly, regardless of the device they are using. That is true and very convenient. You can look up the tab(s) opened on your work computer while you are at home or on the go on the mobile device, and vice versa. Some browsers also support what is called business and personal profiles, which allow users to maintain different profiles for settings, passwords, bookmarks and history.

What are the risks associated with built-in browser password vaults or managers?

While the convenience of browser password vaults and synchronization is undeniable, it is crucial to recognize the associated risks. Additionally, cross-device synchronization relies on cloud services to store and transmit your sensitive data. While the majority of browsers use encryption, no system is completely impenetrable. Vulnerabilities in these sync services could expose your passwords to unauthorized access.

Not all browsers offer robust encryption and security measures for stored passwords. Some may store passwords in plain text or use weak encryption methods, making it easier for hackers to decrypt the information. Additionally, browser password vaults may lack advanced security features such as multi-factor authentication (MFA), further exposing users to potential breaches.

Why are browser password vaults prime targets for cybercriminals?

In part one, we talked about Info Stealers as the primary mechanism to get access to browser vaults and data. Once hackers gain access to a user's browser, they can potentially retrieve all stored passwords. This could happen through various means, such as exploiting browser vulnerabilities, deploying malware, or conducting phishing attacks. Once the vault is compromised, hackers can access a treasure trove of sensitive information, leading to identity theft, financial loss, and unauthorized access to personal and professional accounts.

If you happen to use a shared or public computer and forget to log out of your browser account, it's essential to be aware that anyone who uses that device after you could potentially access all the passwords that are synchronized with the browser. This is why it's essential to always log out of your accounts on shared devices.

Moreover, it's common for users to choose weak master passwords to protect their browser password vaults. However, it's crucial to understand that this creates a significant vulnerability. If a master password is compromised, it gives an attacker access to all the stored credentials, which could have serious consequences.

Additionally, it's worth noting that browser password managers often lack advanced security features that are commonly found in dedicated password management tools. For example, they may not offer two-factor authentication for the password vault itself or alerts for compromised passwords. Therefore, it's important to consider using dedicated password management tools that provide these additional security features.

Lastly, synchronizing passwords across multiple devices increases the attack surface. Each synchronized device becomes a potential entry point for cybercriminals. If even one device is compromised, the entire network of synchronized devices is at risk. For instance, losing a smartphone or tablet that is logged into a browser with synchronized passwords can give malicious actors direct access to the user's accounts.

What tool can I use to safely and efficiently manage my passwords?

Users should adopt best practices for secure password management to mitigate the risks associated with browser password vaults and synchronization. Here are five steps to consider:

1. Use a dedicated password manager with strong encryption and additional security features. Choose the password manager over the browser's built-in password vault.
2. Enable two-factor authentication wherever possible.
3. Regularly update and use unique, complex passwords for each account.
4. As tempting as it is, refrain from signing in and synchronizing your browser data on any computer or mobile device you are not fully controlling (guest, friend, kiosk, hotel, etc.). Ensure that only fully patched and protected systems use these features
5. Regularly review and remove unnecessary stored passwords.

Public Wi-Fi networks are often insecure and can be exploited by hackers to intercept data. Users should avoid logging into sensitive accounts or accessing password vaults over public Wi-Fi. If necessary, using a virtual private network (VPN) can provide an additional layer of security.

While browser password storage and synchronization offer convenience, the potential security risks are significant. Users should carefully weigh these risks against the benefits and consider more secure alternatives for managing their digital credentials. Cybercriminals are constantly evolving their tactics to exploit these features and gain unauthorized access to users' accounts. By understanding the dangers and adopting best practices for secure password management, users can protect themselves from potential cyber threats and safeguard their sensitive information.

We thank Genady for sharing his insights and best practices. It is important to stay informed on the latest cybersecurity threads and fraud trends. Make sure to check our Insights blog regularly and follow us on LinkedIn for the latest articles on cybersecurity, real estate fraud and more. To read the first part of this series, click here.

Interested in more cyber security articles? Check these out:

How Cybercriminals Target the Unwary with Info Stealers
Wire Fraud 101: What is it and How Do You Help Prevent It?
Red Flags to Never Ignore in Real Estate
Staying Ahead of Seller Impersonation Fraud