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Business Password Security Statistics and Trends in 2022

As a leader of your company, you are already well-versed in the importance of password hygiene and cybersecurity measures. However, it’s always important for leaders to stay ahead of the curve when it comes to new trends and statistics to keep your company and security in check as time goes by.

In this post, we’ll talk about the important trends in business password security statistics that show how important your security measures are to your business in 2022.

Business password statistics in 2022

Let’s face it: Remote work is the future for a lot of companies. However, with new innovations to work processes comes new challenges in cyber security—especially with how it relates to password security. Check out these stats to stay ahead and keep your organization’s data safe in a constantly changing business environment.

  1. Two-factor authentication (2FA) adoption is most common among employed people (79%) compared to unemployed people (60%) who responded to a survey with Duo Labs.

  2. 57% of respondents in a survey with Keeper admitted to writing down work-related online passwords on stick notes, and 67% of them admitted to losing those notes.

  3. 51% of individuals say that they used a personal mobile device to access work-related items, and 56% of those respondents admitted to not using two-factor authentication, according to Yubico and Ponemon Institute.

  4. On the same Yubico and Ponemon Institute survey, individuals admitted to reusing passwords across an average of 16 workplace accounts. IT security respondents say they reused passwords across an average of 12 workplace accounts.

  5. LastPass reported that 44% of employees they surveyed said they shared sensitive information and passwords for professional accounts while working remotely.

  6. Meanwhile, only 35% of employers said they made their employees update their passwords regularly while they work remotely, according to the same LastPass survey.

  7. 66% of employees surveyed by Keeper said they are more likely to write down work-related passwords while working from home than they are while working in an office.

As you can see, remote work has impacted password security for businesses and their employees. By implementing password strategies, managers, two-factor authentication, and cybersecurity measures, you can avoid many of these issues.

Password security statistics

With employers using two-factor authentication and password managers more often, they are protecting not only their business but their employees as well. In this modern age, you can utilize more password security options than ever before. Keep reading to see statistics about how people are safeguarding their passwords.

  1. Two-factor authentication can make your account 99.9% less likely to be compromised, according to Microsoft.

  2. In fact, Duo Labs reports that two-factor authentication has become more popular over the last two years, with 79% of respondents saying they used it in 2021, compared to 53% who used it in 2019.

  3. Duo Labs also notes that SMS text messages are the most common second factor users choose when logging into two-factor authentication accounts, at 85%.

  4. 65% of respondents said they trust fingerprint or facial recognition more than traditional text passwords. (LastPass)

  5. 67% of companies have a password policy for their employees but only 34% say they strictly enforce it, according to Yubico and Ponemon Institute.

  6. 12-character passwords take 62 trillion times longer to craft than six-character passwords (Scientific American)

  7. Bad bots, credential scaping, and other malicious actions account for 24% of all internet traffic, according to Dark Reading.

Now that you know about business password statistics as well as password security statistics, you can move forward with streamlining your security compliance into your business processes.


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