this post was submitted on 07 Sep 2023
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More than $35 million has been stolen from over 150 victims since December — ‘nearly every victim’ was a LastPass user (www.theverge.com)
submitted 1 year ago by [email protected] to c/[email protected]
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More than $35 million has been stolen from over 150 victims since December — ‘nearly every victim’ was a LastPass user::Security experts believe some of the LastPass password vaults stolen during a security breach last year have now been cracked open following a string of cryptocurrency heists

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[–] [email protected] 11 points 1 year ago* (last edited 1 year ago)

Except you’re giving your passwords in an encrypted format. So if the company is trustworthy, it’s safe to let them store your passwords because it’s encrypted in such a way that even the company who own the password manager couldn’t access your passwords even if they wanted to.

(Note the caveat of “IF the company is trustworthy”, which rules out Lastpass)

Now I accept that there are legitimate arguments against storing passwords in the cloud via a password manager… so in that case, you may wish to use a local password manager (like Keepass) instead. But realistically, a typical person isn’t capable of memorising lots of unique, secure passwords… so the passwords need to be written down or stored in a password manager, just to avoid weak passwords or password reuse.