{"id":66852,"date":"2023-05-08T16:38:24","date_gmt":"2023-05-08T08:38:24","guid":{"rendered":"https:\/\/version-2.com\/?p=66852"},"modified":"2024-09-13T16:31:18","modified_gmt":"2024-09-13T08:31:18","slug":"how-to-expand-your-iam-offering-with-password-management","status":"publish","type":"post","link":"https:\/\/version-2.com\/en\/2023\/05\/how-to-expand-your-iam-offering-with-password-management\/","title":{"rendered":"How to Expand Your IAM Offering with Password Management"},"content":{"rendered":"
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JumpCloud\u00a0<\/em>recently held a webinar<\/em><\/a>\u00a0to discuss how MSPs can expand their Identity Access Management (IAM) offering with password management.<\/em><\/p>

Our host, JumpCloudian Dakota Hippern, was joined by Antoine Jebara, co-founder and GM of MSP Business, and Rob McGrath, product manager, in discussing the relevance of password management and how JumpCloud Password Manager is poised to help MSPs bolster their IAM offering. Below is a recap of the key points discussed during the webinar.<\/em><\/p>

Passwords might soon become an endangered species. With the uptick in biometric recognition, smart pins, and push notifications as the preferred method of authentication, password management is no longer at the center of organizations\u2019 IAM approach.<\/p>

More companies now use LDAP and RADIUS-based authentication to log people into resources like VPN, Wi-Fi, on-prem infrastructure, etc.<\/p>

Despite this, password management constitutes a vital component in most organizations\u2019 infrastructure, and MSPs must take this into consideration when assessing their identity and access management offering.<\/p>

This post discusses why password management is still relevant today and how MSPs can make the most of JumpCloud\u2019s password manager to deliver excellent service to their clients.<\/p>

Password Management: Why Bother?<\/h2>

Almost two decades after Bill Gates first\u00a0predicted the death of passwords<\/a>, passwords no longer form the core of most organizations\u2019 access management strategy. Why then should MSPs bother with password management?<\/p>

Ubiquity<\/h3>

Passwords are the most common authentication method, and for good reason. First, they\u2019ve been around for far longer. Second, passwords are a right-out-of-the-box feature in almost all devices. This is more than can be said for other modes of authentication such as biometric recognition or smart cards.<\/p>

The net effect is, despite organizations\u2019 less reliance on them, passwords are likely to hang on till, at least, other authentication methods become as commonplace.<\/p>

Weakness<\/h3>

MSPs must have a password management strategy to protect their clients from the vulnerabilities that passwords pose. From phishing to physical theft, and even dumpster diving,\u00a0passwords pose the most risk<\/a>\u00a0of enabling authorized access.<\/p>

Throw in the rising cost of data breaches \u2014\u00a04.5 million dollars as of 2022<\/a>\u00a0\u2014 coupled with the fact that\u00a080% of data breaches are caused by weak or reused passwords<\/a>, then it\u2019s clear why MSPs cannot afford to be lax in their password security approach.<\/p>

Single Sign-On (SSO) Challenges<\/h3>

In developing their IAM offerings, most MSPs have had single sign-on (SSO) play a significant role in their strategy. SSO enables users to log in once to all the company resources they need to get their work done.<\/p>

This is mostly done by coupling SSO with push authentication, biometric recognition, and other authentication modes.<\/p>

Sometimes, however, users will not be able to use SSO to get into some paywalled web-based apps. Or sometimes, they may have to use some shadow IT tools which aren\u2019t part of the company\u2019s infrastructure.<\/p>

In such instances, password usage creates a gap which password management must bridge, or organizations risk security exposure.<\/p>

Password Managers + Types<\/h2>

Password managers are software that securely stores and protects users\u2019 login information. Although they typically maintain records of usernames and relevant passwords, they also offer additional storage options. This includes addresses, card details, etc.<\/p>

There are three major types of password managers:<\/p>

Offline Password Managers<\/h3>

These password managers store and encrypt passwords locally on a user\u2019s endpoints but don\u2019t sync the password across different devices. Thus, users can only use the password manager on one device outside the box.<\/p>

Offline password managers are rather unfit for enterprise use cases because they don\u2019t grant admins with centralized visibility and control. What they lack in convenience however, they make up for in security. Offline password managers are not susceptible to network or server attacks since they store and encrypt passwords on the user\u2019s device.<\/p>

Cloud-Based Password Managers<\/h3>

Cloud-based password managers store passwords in a vault which is itself located on the password manager servers. The passwords are encrypted with a key called the \u201cMaster Password.\u201d The user is tasked with creating, remembering, and protecting this master password.<\/p>

Users access the information in cloud-based password managers using a combination of their email and the master password.<\/p>

These are more convenient since users can access them on multiple devices. Plus, they give a high level of visibility and control to admins. However, they make a huge trade-off in security as their effectiveness depends on the user\u2019s ability to create and protect a strong master password.<\/p>

More worryingly, hackers can also\u00a0breach password manager servers<\/a>\u00a0and gain access to users\u2019 passwords.<\/p>

Hybrid Password Manager<\/h3>

A hybrid password manager, such as JumpCloud Password Manager, works by combining the best traits of the first two types of password manager.<\/p>

It uses a decentralized storage architecture where passwords are stored locally on the user\u2019s endpoints. Next, it generates a key for encrypting the passwords in a vault.<\/p>

This vault then syncs across other devices on JumpCloud\u2019S network, thereby making simultaneous login possible.<\/p>

It also allows users to share passwords with other users in the organization. What\u2019s more? A hybrid password manager facilitates an environment where admins have visibility and control but without being able to see the user\u2019s password unless where it is shared with them.<\/p>

An inherent advantage of JumpCloud\u2019s password manager is that reliance is not placed on a user\u2019s ability to create and protect a master password. Thus, users can authenticate access to this vault using biometrics, Windows Hello, or other local authentication means.<\/p>

JumpCloud Password Manager: Fitting Into a Larger Ecosystem<\/h2>

JumpCloud developed its sophisticated password manager in response to growing demand from organizations and MSPs. The password manager provides a single-point solution for IAM needs, reducing tool sprawl and lowering IT costs.<\/p>

The password manager integrates with the JumpCloud open directory platform and greatly complements other tools such as multi-factor authentication (MFA), SSO, conditional access, etc.<\/p>

JumpCloud Password Manager also provides a seamless experience for admins as it is deployed and managed through one console. Users also benefit from not having to log in to disparate apps through an external password manager.<\/p>

Besides its benefits as an important part of a larger ecosystem, JumpCloud Password Manager is also a superior option because it eliminates the dilemma of choosing between convenience and security.<\/p>

Leverage JumpCloud\u2019s Password Manager Today<\/h2>

As passwords continue to hang on for the ride, MSPs must understand how to fit password managers into their IAM offering.<\/p>

With JumpCloud\u2019s hybrid password manager being the perfect mix of security, visibility, control, and convenience, password management just became less of a pick-your-poison dilemma.Learn more about\u00a0JumpCloud\u2019s password manager<\/a>\u00a0and watch a demonstration of it\u00a0in this webinar<\/a>.<\/p><\/div><\/article>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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About Version 2 Digital<\/h3>

Version 2 Digital is one of the most dynamic IT companies in Asia. The company distributes a wide range of IT products across various areas including cyber security, cloud, data protection, end points, infrastructures, system monitoring, storage, networking, business productivity and communication products.\n

\nThrough an extensive network of channels, point of sales, resellers, and partnership companies, Version 2 offers quality products and services which are highly acclaimed in the market. Its customers cover a wide spectrum which include Global 1000 enterprises, regional listed companies, different vertical industries, public utilities, Government, a vast number of successful SMEs, and consumers in various Asian cities.<\/p><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t\n\t\t

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About JumpCloud<\/strong>
At JumpCloud, our mission is to build a world-class cloud directory. Not just the evolution of Active Directory to the cloud, but a reinvention of how modern IT teams get work done. The JumpCloud Directory Platform is a directory for your users, their IT resources, your fleet of devices, and the secure connections between them with full control, security, and visibility.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>","protected":false},"excerpt":{"rendered":"

JumpCloud\u00a0recently held a webinar\u00a0to discuss how MSPs c […]<\/p>","protected":false},"author":148637484,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1075,1016,61],"tags":[1017,1076],"class_list":["post-66852","post","type-post","status-publish","format-standard","hentry","category-year2023","category-jumpcloud","category-press-release","tag-jumpcloud","tag-1076"],"acf":[],"yoast_head":"\nHow to Expand Your IAM Offering with Password Management - Version 2<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/jumpcloud.com\/blog\/webinar-recap-iam-password-management\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How to Expand Your IAM Offering with Password Management - 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