According to the recent study “Reused Login Credentials” by security firm Trusteer, 73 percent of Web users take their online banking password and use it at other Web sites. This twelve-month study surveyed over 4 million people and almost half of all them utilize the same password and user name at online banking sites and other sites.

Does it mean that people generally careless or ignorant about protecting their financial and personal information? Cormac Herley from Microsoft Research in his article “So Long, And No Thanks for the Externalities: The Rational Rejection of Security Advice by Users” , argues that people fail security rules because there is a cost involved, in the form of user effort. He says it is quite rational for users to ignore security advice because the losses appear small comparing to the effort involved in keeping up with the strong password practices.

The average person is faced with plentiful password-protected websites. At some point user’s time cost outweighs the danger of a theoretical hacker. Predictably, people find it more efficient using same passwords over and over again. Luckily, diligent and concerned users can choose from a wide variety of tools to help manage the surplus of passwords.

We encourage folks to consider using a password manager and one such product that we are testing is LastPass. This new and FREE LastPass password manager not only captures passwords from sites you are using but also allows you to make strong passwords easily. Your sensitive data is encrypted locally on your computer prior it is uploaded so even LastPass cannot get access to it.

From publisher: “ LastPass is the last password you will ever need. It allows you to: Create strong passwords, knowing you only have to remember one. LastPass has addons for: Internet Explorer, Firefox, Safari (for Mac), Google Chrome, and works with other browsers with Bookmarklets (e.g. Opera). LastPass uses Host Proof Hosting techniques to synchronize your passwords all while LastPass never has access to your sensitive data. LastPass offers a premium upgrade as well for mobile access on iPhone, BlackBerry, Windows Mobile, Google Android, and Symbian phones.”

LastPass has been included in the list of the Best Products of 2009 by PCWorld magazine at number 46.

LastPass empowers you to keep your passwords strong without much time and effort. No need to memorize long passwords or write down your password on a sticky note again.