Using strong passwords is the foundation of a secure website.
Why are passwords important?
Passwords play an essential role in website security because they are typically the first line of defense against unauthorized access. By requiring strong passwords for administrator accounts, content management accounts, user accounts, and any other account that requires a login, you can help to ensure that only authorized individuals can access your site.
What happens if a password is compromised?
If a hacker can gain access to an administrator account, they could potentially wreak havoc on your website. They could delete important files, change website content, and even steal sensitive information.
Administrative access also allows a hacker to install malicious software on your website, which could redirect visitors to other sites, display unwanted ads, or even steal personal information.
Risk & Exposure
What is your legal liability?
If your website processes transactions that require the storage or transmission of personal, private, or financial data, you must protect that data from unauthorized access. If your security is compromised, you could be held liable for any damages that occur as a result. Specific industries are regulated, and there are potential fines and penalties for mishandling personal, private, or financial data. In addition to the exposure you may have as a result of a data breach, you may also be liable if malicious software is installed on your website that directs your site visitors to websites that impersonate your website to steal personal information. This is commonly known as “phishing.”
We recommend that you speak to your insurance carrier and legal counsel about protecting your company from liability.
In short, having a hacker gain access to your administrator account could spell disaster for your website and for your company.
The Financial Costs
While the financial cost of a website breach can vary depending on the severity of the violation, it is always costly. In addition to the cost of repairing any damage that was done, you may also be responsible for any data that was stolen or any legal fees that are incurred as a result of the breach.
In some cases, you may also be required to notify your website’s visitors of the breach. This can be costly, as you will likely need to hire a professional to help you craft a notification that meets all legal requirements. In addition to the direct costs of repairing damage and notifying visitors, you may also face indirect costs such as a loss of revenue or customers. Ultimately, the financial cost of a website breach can be significant.
Reputational Harm
In addition to the financial cost, a data breach can also cause reputational harm to an organization. A data breach can damage consumers’ trust in a company.
Customers who lose trust in a company may be less likely to do business with it. This can lead to a loss of revenue and customers. In some cases, the reputational damage caused by a data breach can be so severe that it leads to the closure of a business.
Even if a data breach does not result in any financial loss, it can still cause significant reputational damage to a company. When malicious software is installed on your website, Google, Microsoft and Apple will detect and take immediate action to protect the public from being exposed to malware or phishing attacks. They will block your website from their search engines and browsers, which will become a significant issue.
Conclusion
It’s essential for companies to take steps to prevent data breaches from occurring in the first place. Passwords are the best place to start because, without strong passwords, other security measures can be bypassed. See additional points regarding website security.
Next, we will explain the steps to creating strong passwords and how to manage them on your website.
