It is convenient to have your passwords stored so that you don’t have to remember and type them in for every site. The only problem with using the functionality built into an OS/application is that the passwords are left on your HDD for others to hack in and steal. The ID Vault is a USB device that stores all of them for you and requires a PIN to access it. They call this two-factor authentication. You need both the physical device and the password to use it. You can also sign up for their subscription service that will authenticate the IP address of over 6,000 financial institutions websites.
It is a bit of a timesaver but, of course no security device is perfect. The ability to duplicate the data onto another key is a nice backup, but at $49.95 a piece it is a pretty steep price to pay. Of course, if you are like me, you have too many user id’s and passwords to remember, and it may be worth it to simplify your life a bit. And it’s mobility is certainly a plus.
