Introduction to Password Managers
Password managers are one of the most effective ways internet users keep their online lives in order. Many popular services include 1Password, LastPass, and NordPass, which can be used for storing and generating passwords, and recalling login credentials. These platforms provide a secure and convenient way to manage multiple passwords, making it easier to protect online identities.
The Growing Threat of Cyberattacks
However, while you may think your passwords are secure with these platforms, cybercriminals are getting more sophisticated with their methods of hacking password managers and getting access to your digital information. A recent report by cybersecurity firm Picus Security indicates cyberattacks on password managers were three times more likely to occur in 2024 than in the year prior. This alarming trend highlights the importance of being vigilant and taking extra precautions to protect online security.
The Scope of the Problem
The research, detailed in the firm’s Red Report 2025, also noted that of the one million malware variants studied, 25% of them targeted password managers or some method of other password storage, such as web browsers that allow for saving login credentials. This significant percentage shows that cybercriminals are increasingly focusing on password managers as a way to gain access to sensitive information.
The SneakThief Method
The firm uses its MITRE ATT&CK Framework to classify cyberattacks. Picus has determined that hackers have developed a multi-stage method of cyberattack it’s calling “SneakThief,” which entails “increased stealth, persistence, and automation.” Hackers perform over a “dozen malicious actions” to collect data without detection. Picus calls the method “the perfect heist.” This sophisticated approach makes it challenging for users to detect and prevent cyberattacks.
Protecting Yourself
“Threat actors are leveraging sophisticated extraction methods, including memory scraping, registry harvesting, and compromising local and cloud-based password stores, to obtain credentials that give attackers the keys to the kingdom,” Picus Security co-founder and VP of Picus Labs, Dr. Suleyman Ozarslan said in a statement. To protect yourself, Ozarslan recommends that password manager users utilize multi-factor authentication alongside the primary password-storing method. Additionally, he suggests never reusing passwords, particularly if they are being stored in a password manager.
The Role of Artificial Intelligence
While artificial intelligence is a quickly growing trend in today’s cybersecurity space, Red Report noted no significant increase in cybercriminals using AI-driven malware in 2024. This finding suggests that traditional methods of cyberattacks are still prevalent and that users should remain cautious and take proactive steps to protect their online security.
Conclusion
In conclusion, password managers are a valuable tool for managing online security, but they are not foolproof. The growing threat of cyberattacks on password managers highlights the importance of being vigilant and taking extra precautions to protect online identities. By utilizing multi-factor authentication, avoiding password reuse, and staying informed about the latest cyber threats, users can reduce the risk of falling victim to cyberattacks and keep their online lives secure.
