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Passwords have been a main topic for what seems like forever. They're an integral part of securing identities because we live in a credentials-based world. But after a while, the discussion of passwords loses its luster, making it easy to forget about how passwords play out in the big business picture -- until we count up the cost.
From just a corporate perspective, the number of passwords per person can climb into the double digits when you factor in email accounts, CRMs, tracking tools and HR systems. Pile on your personal accounts and your head just might explode.
We all have so many thoughts competing for prime real estate in our heads. So, following the best practice of having a unique password for each application we use is just not happening. It's no wonder the average user either reuses the same password over and over or 'hides' their unique passwords on sticky notes. Despite our best efforts, we're human. We forget.
Cue the "reset" game. If passwords are the price we pay for admission, then companies are managing the world's most expensive Lost and Found. Password resets cost companies an average of $100 per person per reset -- for the labor alone. For a 5,000-person company, that's half a million dollars just to bail the people out who forgot their first dog's middle name.
Just how much havoc does multiple passwords cause in the workplace? Check out our infographic on the problem with password proliferation to get the facts. But beware, with this knowledge, your CFO just might burst into tears.