Password-management service 1Password will be tapping Have I Been Pwned (HIBP) for its new breach reporting service for companies, said Venture Beat. It will help employers identify employee accounts that have been compromised.
1Password’s project was conceived after businesses across the globe have been compelled to implement work from home policies in light of the virus pandemic. Venture Beat noted that this situation “could increase the risk of security breaches.”
In fact, the email management platform Mimecast reported that there was a spike in impersonation attacks within the first hundred days of the outbreak. The increase was around 33%.
Venture Beat also remarked that 81% of all breaches in businesses occur because of compromised passwords. Moreover, any form of firewalls and military-grade security programs will not be able to protect enterprises if the breach comes from a weak password.
1Password is one of the many platforms that offer password management to consumers and businesses. It also allows customers to store their passwords in a secure manner.
The company acquired $200 million, which will be used to develop this service. This million-dollar fund is 1Password’s very first funding from external sources.
Ultimately, the goal of 1Password is to improve password hygiene for their clients. With such service, users will be able to sign into various accounts with just the click of a button.
The password management platform’s new service will deal with domain breach reports in the hopes of making it easier for enterprises to find out whether an employee account has been breached.
This system will also alert affected users and offer to replace their passwords with a new one created by 1Password.
In identifying accounts that have been compromised, 1Password’s partnership with HIBP will help in letting employers and employees know if their current passwords will be a source of security issues.
HIBP is a breach database that allows users to enter their passwords to see whether it has been included in data dumps resulting from malicious activities. It was created by Troy Hunt, a security expert.
The database’s goal is to encourage users to change their codes once they find out that it has been compromised.
Now that it is incorporated into 1Password’s management platform, enterprise customers will be able to search for their pass keys in HIBP’s database, create a new one, and store it in just one service.