How can I store my passwords securely?

Episode 1205 (59:56)

Paul from San Bernardino, CA

Paul has trouble remembering all of his passwords. Leo says that the best password is one that's long, random, and filled with letters, numbers and punctuation. But that makes it impossible to remember and a hassle to always type. This is why Leo relies on a password vault, or wallet, that has all the passwords in it. Then he'll only have to remember one master password. But he'll have to choose carefuly because the downside of a vault/wallet is that it has a single point of failure. So when he has one, he should make sure the master password is one that only he knows.

Leo likes LastPass because it encrypts the passwords so that not even LastPass can read them. Even when it was hacked recently, the hackers couldn't read any passwords from it. Paul can also use his USB Key, and even store it up in the cloud. But having it in the cloud is a bit risky. He can also use second factor authentication, where it sends him a code to his mobile phone. A fingerprint reader would also be beneficial.