Password managers are a great tool, but nothing is perfect.
Open to all.
A password manager, as you know is just a program/application, which means it can be vulnerable to attacks. While password managers provide robust security measures, it's important to acknowledge that no system is entirely immune to attacks. As a program/application, password managers may have potential vulnerabilities that malicious actors could exploit. However, by following additional security measures and practicing good password hygiene, you can minimize the risks and keep your password manager even more secure.
What do they do
Password managers provide a bit of convenience with a bit security. But remember what we say... Convenience and security will never be in the same place at the same time. It will never be 100% for both at the same time, so there will always be one that will be 'lacking'. It's essential to remain proactive and mindful of potential vulnerabilities. By implementing additional security measures, practicing good password hygiene, and staying vigilant against potential threats. Remember Keypass had a major flaw that would expose your 'master password' in plain text to an attacker. Google Password Manager doesn’t use encryption techniques that protect password data, doesn't even use a master password. Even OneLogin & LastPass have fallen to hacks and/or breaches.
How can this affect you
It can have significant implications for your online security and privacy. Unauthorized Access to Stored Passwords, Exposure of Sensitive Information, Password Reuse Attacks, Loss of Trust and Reputation, Time and Effort for Recovery, all are bad.
Alternatives
Offline password managers offer an alternative approach to password management and can provide certain advantages. They store your password data locally on your device or an external storage device, rather than relying on cloud storage or online synchronization. This eliminates the risk of potential breaches or unauthorized access to your data through online channels. As long as your device remains secure, the offline password manager offers an additional layer of protection. Reduced Dependency on Internet Connectivity. You can access and update your passwords offline, providing greater convenience and accessibility. Protection Against Cloud Service Vulnerabilities you eliminate this threat basically 100%. With offline password managers, your password data remains solely on your device or storage device, reducing the exposure of your sensitive information to external servers or networks.
Too good to be true.
Offline password managers also have certain considerations and limitations. Manual Synchronization, Potential Data Loss there is a risk of data loss if your device is lost, stolen, damaged, or experiences a hardware failure. Limited Convenience and Accessibility. With online password managers, you can access your passwords from any device with an internet connection. Offline password managers, on the other hand, require access to the specific device or storage device where the data is stored.
Don’t Forget..
Ultimately, the choice between an online or offline password manager depends on your individual preferences and security requirements. Consider factors such as your threat model, desired convenience, and level of trust in cloud services when making a decision. Regardless of the type of password manager you choose, practicing good password hygiene and implementing strong security measures will contribute significantly to safeguarding your passwords and digital identity.