The modern family shares access to streaming services, social media accounts, and online banking, so managing and sharing passwords securely has never been more critical. Not using secure sharing practices puts your sensitive information at risk for fraud. 

Keep reading to learn how to safely share passwords with family and why Trustworthy is the best choice for managing your family’s information. 

Key Takeaways 

• Only share passwords with people you trust, who know how to keep them safe, and who need access.

• Securely share and store your passwords with a password manager like Trustworthy.

• Avoid keeping handwritten copies of your passport, using the same password for all accounts, and sharing your password via email and text message. 

Best Practices for Secure Password Sharing

If you share your passwords with others, including family members, there is a risk that unauthorized persons will access your information. To prevent this, follow our best practices for secure password storage. 

How to Decide Who Should Have Access to Your Passwords

One of the best ways to protect your passwords is to restrict access. While you're often told never to share them, this isn't always practical.

Cameron Bowen, CEO of BMP Security explains: 

“We're all guilty of sharing passwords with our family or friends. It is crucial to understand the risks of losing control over your account and what it is used for. In some cases, sharing your Netflix account with a family member may be acceptable. This is true if the only thing affected is your "My List" entries. On the other hand, you might want to think twice before handing out your bank account password.”

When deciding who should have access to your passwords, you should consider the following: 

• Trust: Consider whether you fully trust the individual to keep your password safe.

• Technical literacy: Are they able to handle and use your password securely? They should have some basic technical literacy. 

• Necessity: Do they really need access to your password? Consider financial, emergency, and everyday reasons why they might need your password. 

For example, this could mean sharing the password for your streaming services with your children and other family members, but only sharing the passwords to your online banking with trusted adults like your partner. 

The Importance of Using Unique, Strong Passwords for Every Account

If you share your passwords with your family, it is strongly recommended that you use different passwords for each account. While having one password for all your streaming and subscription services is convenient, it puts your data at serious risk. If one account is breached, all the others are vulnerable, too. 

Bowen adds: 

“The best answer is that your password becomes a jumbled mess. To untangle this mess, an attacker must use a lot of computing power. The more complex your password is, and the longer it is, the harder it is to crack… The reason passwords need to be unique is to prevent one account from compromising all accounts. If one account is hacked, it can lead to all your accounts being compromised if they share the same password. This creates a problem for consumers, though, because it requires remembering many unique and complex passwords.”

Kaspersky Daily conducted a study on real passwords leaked onto the dark web. It found that 59% of these passwords could be cracked in less than an hour, and only 23% could be considered truly strong. 

When and Why You Should Update Shared Passwords

Should you update your password even if it hasn’t been hacked? Daniel Pearson, CEO of a web hosting company, advises:

 “Cybercriminals are constantly evolving their tactics, but simple password hygiene can be the difference between staying protected and having your details included in a data breach.” 

This means updating your password periodically throughout the year and changing it after someone no longer requires access and after a security breach. For example, if a family member moves out and no longer needs access to that password, this is your sign to update it.  

Tools for Secure Password Management

Keep your passwords secure and organized with a password management tool. Many excellent options for families exist, such as LastPass, 1Password, and Bitwarden, but none stand out as much as Trustworthy. Trustworthy is more than a document management tool. It was designed with family needs in mind. 

Pros and Cons of Using Password Managers

Common pros: 

• Strong security like encryption, which is harder to hack 

• Synchronizes across devices for instant access 

• Allows secure sharing between trusted individuals 

Cons to take note of: 

• Some tools will require a paid subscription 

• Not all family members may be comfortable using password management tools 

• Risk of a master password breach 

How to Securely Store and Share Passwords Using Built-in Browser Tools

While password management services are more secure, you don’t have to pay subscriptions for built-in browser tools from Chrome and Edge. When using these browsers, you can enable syncing across trusted devices, use a strong master password, and limit sharing to trusted immediate family members only. 

For example, Google Password Manager allows you to securely share WiFi credentials with family members with Google accounts. 

The Role of Two-Factor Authentication (2FA) in Shared Access

Having a strong password is no longer enough. You need the extra protection that two-factor authentication (2FA) offers. 2FA is an advanced security system that requires two types of information: a password and a code sent to the phone. Without both, access is not permitted. 

While other password management tools have advanced security features, Trustworthy takes your information’s safety to another level by employing bank-level security. Features like AES 256-bit encryption, multi-factor authentication, biometric authentication, physical security keys, and advanced threat detection keep your data safe. 

Tokenization enhances security by replacing sensitive data with unique tokens stored outside your Trustworthy account—offering protection beyond many banks. Trustworthy also holds SOC 2 Type II and SOC 3 certifications.

Trustworthy meets the highest compliance standards, fully adhering to HIPAA and GDPR requirements.

Secure Methods for Sharing Passwords

Sometimes, sharing passwords is unavoidable, but there are ways to do it safely.

Don’t Use Email and Text Messages 

Email and text messages are not the most secure methods of password sharing. Here’s why:

• No encryption: Most email and text services may use passwords but lack stronger security measures like AES 256-bit encryption.

• Risk of metadata exposure: Even if your message was secured with encryption, the recipient and sender information can still be visible.

• Multiple servers: Sent emails will travel through multiple servers before reaching the recipient, which increases the risk of unauthorized access.

• Risk of phishing attacks: Email users can be tricked into revealing sensitive information about themselves through scam emails that look legitimate 

Instead of using email and text messaging, we suggest using secure messaging apps for password sharing. For example, WhatsApp offers end-to-end encryption to keep your messages private. Other things you can do to keep your passwords safe include: 

• Not sending the password and the username in the same message 

• Sending a temporary link that will expire after use 

Secure Alternatives Like Password-Protected Documents and Vaults

Keep your family’s sensitive information safe with password-protected documents stored in a secure digital vault like Trustworthy. The AES-256 encryption and other bank-level security features give you peace of mind that your data is secure. 

Trustworthy ensures secure, instant access to your information from anywhere via your phone. Its AI-powered Autopilot organizes data into categories while providing document insights, summaries, and filename suggestions for easy storage.

Unlike other password managers, Trustworthy lets users build a trusted network of family and professionals, securely sharing passwords with customizable access levels.

The SecureLinks™ feature allows controlled sharing outside your network with access-only links that expire, giving you full control over your information.

Estate Planning and Password Sharing

A key part of estate planning is ensuring your loved one can access your critical documents and information. This means sharing your password with family members or a trusted person like your attorney.

If your will or trust has listed digital assets or you’re designating a family member to have access to your financial accounts, you need to provide the passwords. But simply listing them in the trust or will is not enough. You should include instructions for accessing the password manager, such as Trustworthy. 

Trustworthy makes estate and emergency planning stress-free with the legacy feature that ensures chosen family members can access your account if something happens to you.   

Avoiding Common Password-Sharing Mistakes

Keep your passwords safe by avoiding these common password-sharing mistakes:

• Writing passwords on paper: Handwritten passwords can be lost, stolen, or easily read by unauthorized persons. Instead, store your passwords in a password manager like Trustworthy.

• Using the same password for multiple accounts: This is dangerous because if one account is breached, all your others are at risk. 

How to Spot Scams and Protect Against Unauthorized Access

Protecting your passwords means knowing how to spot scams and suspicious activity. 

Some common signs of scams are suspicious links, unknown email addresses, and bad spelling. If in doubt, call or visit your bank or the IRS directly if you are asked to provide financial information over email because this is likely a scam. 

Protect yourself from unauthorized access by never sharing your password via unsolicited messages or with untrustworthy people. Also, additional security, such as 2FA and biometric authentication, should be used. 

What to Do If a Shared Password Is Compromised

If your shared password has been compromised, you need to immediately: 

• Change the exposed password as soon as possible using a unique combination of letters, numbers, and characters

• Enable 2FA and other security measures like biometric authentication

• Keep an eye on your account for suspicious behavior

• If a shared password to your online banking has been compromised, it is a good idea to freeze your credit, which can be un-frozen at any time 

Store and share your updated password with trusted family members using Trustworthy. 

Final Tips for Keeping Your Digital Life Secure

Keeping your shared passwords safe requires ongoing password management and security audits every few months. You can use Trustworthy to set reminders for these audits.

Make sure that all family members who have access to your passwords understand cybersecurity. You can educate them by holding short training sessions, sharing articles and updates with them, and encouraging them to use a password manager like Trustworthy to keep up with the evolving world of digital security. 

Try out Trustworthy for free and stay as long as you like. 

Frequently Asked Questions   

What’s the best way to revoke shared password access?

You can do this by changing the shared password immediately and removing saved logins from the browser and password manager autofill. 

How do I know if a shared password has been compromised?

Generally, the company that holds your password will notify you of the data breach, but you can also look out for suspicious activity on your accounts or new logins from unfamiliar devices and locations. 

What should I do if a family member refuses to use a password manager?

Take the time to fully explain the security benefits of using one, as they may just be unsure of how to use it. You can offer to help them set up their account and show them how it works.