LastPass Hack is Second in Four Years

LastPass offers cloud based password management services that help in making the passwords stronger using sophisticated cloud technology. LastPass offers a web interface with various applications and plugins which are highly available in all of the latest browsers. Password management tools are popular because they allow you to create and store highly complex passwords for your most frequently visited sites. Allegedly storing the passwords safely in the cloud allows convenient access whenever you need regardless of what computer you are using. For years LastPass has been a trusted name in password management and is in use across the globe.

Just this week, LastPass, the trade name of the services offered by the company Marvasol, Inc., based in Viriginia, announced that the servers which run their entire password management and security programs had been hacked, and that the important information stored on their servers along with the passwords which were cryptographically protected had been stolen.

The product, which is used by countless individuals, companies and IT professionals around the world, offers storage of website passwords as well as credit card and personal information. The primary feature is protecting the archive of collected passwords with a single password the user enters in their browser to then autocomplete the login screen on their frequently accessed websites or applications. This is the second time in the past 4 years when the entire database of sensitive information has been stolen from the highly secured server network.

In his blog the CEO of LastPass, Joe Siegrist had given the details about how the unidentified hackers not only obtained the information about the entire system but took away the encrypted passwords, cryptographic vaults, password hints, and email id's.

It is still not clear if the hackers could be able to open the highly protective cryptographic vaults which enclosed the valid password information inside. LastPass claims to have hashed the leaked passwords over 100,000 times with modern encryption algorithms making it unlikely that a hacker will be able to access the information, yet hackers were still able to breach their secure network and obtain identifying user information.

But today we understand more and more that the entire internet is under the threat of attack, hacking and misuse of the important information stored. And now it can start the debate among professionals about how safe are the passwords stored in the cloud. Numbers of experts have begun arguing about the cloud being vulnerable and susceptible to many unauthorized applications. Without using password replacement technology like NetLok Photo™, consumers and businesses will continue to hang in the balance of these persistent threats.