The average business employee must keep track of 191 passwords, according to a report from LastPass.
According to the report, 81% of confirmed data breaches are due to passwords. Yet despite the alarming news cycle, too many businesses are failing to respond to the threat, with 61% of IT executives relying exclusively on employee education.
People often underestimate the number of accounts they actually have, according to the report. And the average 250-employee company has 47,750 passwords in use, the report found.
"Beyond the enterprise-level apps that are standardized across a business, individual employees have dozens more, whether they use them once a year or every day," the report said. "When credentials are systematically collected and organized in one place, a more accurate picture emerges."
The report also noted that the average employee starts with 20 credentials in their password vault, and doubled that number after only three months, and that 61% of people to use the same or a similar password everywhere, despite knowing that it's not a secure practice.
The average employee types out credentials to authenticate to their websites and apps 154 times per month, the report found. They also share about four passwords with others.
Only 27% of businesses have enabled multi-factor authentication to protect their password vaults, LastPass found. "While we're seeing that a significant portion of businesses are investing in multi-factor authentication, it is not yet adopted widely enough to compensate for the shortcomings of passwords," according to the report.