Storing your seed phrase in a password manager? Yes or no?

[Bastketsrus]

The conventional wisdom is to never store your seed phrase online.

However, millions if not billions of people rely on password managers to store critical username and password information for
their bank accounts, email account, Amazon, ebay, Apple and Android accounts, crypto exchanges, school and work emails, etc.
PMs also store all your personal identifying information including name, address, phone number, etc.

The average person probably has at least a hundred different online passwords which would be virtually impossible to keep track of
without a password manager. I have never heard of a password manager being hacked into so they seem to be extremely secure.
I have been using PMs myself for over 20 years with no issues. So if they have such a stellar track record of security then why not
use a PM to store your seed phrase? Most PMs allow you to store personal notes so that is where your seed phrase would go.

Benefits of using a PM - eliminates the possibility of losing your physical backup or having it stolen.
Personally I am more worried about someone stealing my physical backup or me losing it then I am
of my PM getting hacked.

I'm not saying others should store their seed phrase in a PM but I do believe it is an option worth considering.
Ultimately it is up to every person to make their own choice. If you don't feel comfortable doing it then don't do it.
Keep your seed phrase offline. Another option is having both - a physical backup plus online backup secured in your PM.

I would also suggest using a passphrase (aka hidden wallet) so in the remote event someone hacks your PM
they won't be able to use your seed phrase without knowing your passphrase. But this is completely optional
and can be a double edge sword - if you ever forget your passphrase you are screwed so better make sure
it is simple enough to remember. Of course you never want to store your passphrase together with your seedphrase
because that would defeat the purpose.

I see your point — PMs are super handy, but storing a seed there still feels a bit risky to me. I’d rather keep mine offline, just to be safe.

[Queentoshi]

However, millions if not billions of people rely on password managers to store critical username and password information for
their bank accounts, email account, Amazon, ebay, Apple and Android accounts, crypto exchanges, school and work emails, etc.
PMs also store all your personal identifying information including name, address, phone number, etc.

The people who still go on with trusting their passwords to important application and access to banking apps on a password manager are people who have not experienced or persons who have never been victims of a hack. A password manager is never completely secure to me, I cannot really trust them because I know it will be very costly if I do trust them with all my passwords, and then they get hacked.

The average person probably has at least a hundred different online passwords which would be virtually impossible to keep track of
without a password manager.

I think a smarter approach is not using very different passwords, you can have a particular password pattern, and then make little variations on them based depending on the app.

I have never heard of a password manager being hacked into so they seem to be extremely secure.

If you have not heard, it doesn't mean that it has not happened and if it has not yet happened, it does not mean that it cannot happen.

[Mate2237]

Storing your seed phrase as a password on any computer devices or even in your email should not be encouraged because these ways are not secure because it's prone to attack from hackers online again you can lose your computer and smart phone so when you phone or computer fails into the wrong hand you could lose your Bitcoin assets so this method is not advisable.


We should be always careful with the way that we handle our seed phrase because that is key to the security of your investment so taking extra carefulness in handling our seed phrase is important

[Fiasem20]

Your seed phrase storage method should be your No.1 priority in the crypto space.I prefer offline storage method than the online storage method(password manager). Backing up your seed phrase on password manager literally mean you're still vulnerable to online hack in order to avoid being in a traumatized mood it's best you write down your seed phrase on several pieces of paper and store them in a secure location.Offline storage is the best method to backup your seed phrase.The most popular password managers are the target to online hacks,just like "lastpass" that was popular was hacked at all,so don't intend backing up your seed phrase in a password manager because you might end up losing all your holdings in a twinkle of an eye.

[DYING_S0UL]

Go luck being a homeless!

NO way man, who does that? That's absolutely fu*cking no/nope/nada/negative...I would rather go to jail than store my seed in a password manager or in PMs.
Rather use an air gapped device or an offline device. If you don't have that they follow the classic method, a pen and a piece of paper. If you think that isn't safe enough then you may try storing the seeds in tools like Crypto steel.

[peter0425]

I have never heard of a password manager being hacked into so they seem to be extremely secure.

Depends on the password manager you are using. Millions stolen from LastPass users in massive attack. This is why if you don’t want to go through the traditional route of writing it in a piece of paper, you need to at least choose a proper and secure password manager. To be fair last pass experienced an attack few years ago so it’s not the strongest right now but my point is that it’s possible so choose wisely.

[sheenshane]

I have never heard of a password manager being hacked into so they seem to be extremely secure.

Depends on the password manager you are using.

Do you depend on the password manager you are using?
Is there a better password manager available?
IMO, everything online is not safe, so you are relying on others to store your passwords or other important details.

You've mentioned that the traditional method of keeping passwords is better in physical form, like writing them on a piece of paper or engraving them on a hard object that can't be burned or damaged by water.  If you search on Google, you'll find numerous password managers that have been compromised, and I wonder if you still trust them at all.

[Smack That Ace]

Do you depend on the password manager you are using?
Is there a better password manager available?
IMO, everything online is not safe, so you are relying on others to store your passwords or other important details.

You've mentioned that the traditional method of keeping passwords is better in physical form, like writing them on a piece of paper or engraving them on a hard object that can't be burned or damaged by water.  If you search on Google, you'll find numerous password managers that have been compromised, and I wonder if you still trust them at all.

We cannot conclude that all PM or online services are equally risky just because some poorly secured password managers like LastPass have been hacked. There are a lot of good password managers like 1Password or KeePass...and they have never been hacked, but the problem is they are not suitable for storing all the important information and especially the seed phrase.

Furthermore, offline storage methods may avoid online risks but that does not mean they are completely safe. With traditional storage, we will face risks such as fire, flood or natural disasters, loss, theft...each method has advantages and disadvantages, no method is perfect.

[lionheart78]

Benefits of using a PM - eliminates the possibility of losing your physical backup or having it stolen.
Personally I am more worried about someone stealing my physical backup or me losing it then I am
of my PM getting hacked.

It is indeed convenient to use a password manager but convenience comes with the risks.  These risks are:

Entrusting our private data to a third party.  This is definitely a no for me when it comes to finances.  I will never entrust my password to any password manager because for me it is better to do it myself (keeping my passphrase) than entrusting it to other people. 

This is the table showing the benefits and risks of a password manager:



The keypoint here is that when the cloud data where our passwords got hacked, all our passwords saved on that cloud file will be compromised.  Another thing is when the service itself turned rouge and looked for these cryptocurrency passphrases, we could just kiss our funds goodbye.

PM although very convenient is not advisable to use when dealing with finances and sensitive data.  Although anyone can use it according to their liking I strongly suggest not to use it when dealing with financial related stuff.

[hyudien]

I would say no if to store seed phrase in PM, this is a third party even though they have high security system still PM operates online, maybe it will be safe in few years but not forever because as long as it is online bad guys can hack it. I prefer to store offline securing ownership in my own hands is much better

[Spaceman1000$]

The thing is that everybody has their own way of storing password and seed phrase, I can only recommend the manager that is probably offline, but hence it's online, trust me it can get compromise. There are still some persons that prefer physically storage by putting down their seedphrase on a written note and keeping in a safe place, just to make sure they keep it offline, the password and seedphrase can even be kept separately. So but human beings being who they are, they will want to do what they feel is easy for them.

[Hewlet]

I'm not saying others should store their seed phrase in a PM but I do believe it is an option worth considering.
Ultimately it is up to every person to make their own choice. If you don't feel comfortable doing it then don't do it.

Anything that's related to storing of seed phrase online has a lot of vulnerability because of the issue of bridge in privacy that we are currently experiencing accros most of the platforms that are used for storing of supposed private information. If you know that the asset you're holding is something you wouldn't let go for no reason, it's best to secure your seed phrase offline so you're sure you're at least protected from every risk of hack.

Even most of the supposed end to end encryption have overtime become susceptible to a bridge, how trustworthy can they then be that we can freely allow our wallet security to be handled by it. Some times for the sake of comfort, I've been tempted to store a copy of my seed phase in a chat group where I'm the only one there's in but for safety sake, that's not an option to work with.

[buwaytress]

I always say it is about what the person requires and what risks they are most vulnerable to.

My mom and dad, and most people I know? Yes absolutely. Forget what people drone on about paper and vaults and separation of phrases if you are most people who can't memorise phone numbers and passwords or where you hide your pron.

[Marvell1]

If you want to use password managers, I suggest you to split your seeds e.g. 4 words in A password manager, 4 words in B password manager and 4 words in C password manager.

But this method inadvertently creates many new problems for us. Instead of before we just need to use a password manager and our task is just to remember 1 email and 1 password. Now, using 3 password managers means we need to remember 3 different passwords as well as spend more time managing 3 applications well at the same time. I found it didn't suit me at all  .

Not to mention, although there are many password storage app available today, not many of them are reliable, such as open source, have never been hacked before...or we will have to pay extra costs to use them...Instead, why don't we store it offline, which is both safer and saves? I still think that offline storage is safer.

[satscraper]

~

I’ve encrypted my SEED phrases using GPG key which is stored on the hardware dongle. The encrypted SEED phrases were placed into KeePassXC and the corresponding .kdbx file ^{(which is also encrypted with the composite password)} has been saved on Tails persistent volume. This volume is locked with the separate composite password, one part of which is kept on the same hardware dongle.Unless you use the comparable method to store SEED phrases on digital media your security may be at risk. If you're interested in learning more about the technique I use, feel free to read it.

[sokani]

Depends on the password manager you are using. Millions stolen from LastPass users in massive attack. This is why if you don’t want to go through the traditional route of writing it in a piece of paper, you need to at least choose a proper and secure password manager. To be fair last pass experienced an attack few years ago so it’s not the strongest right now but my point is that it’s possible so choose wisely.

There's no such thing as a secure password manager. The LastPass password hack may be the most recent or popular case. However, others like 1Password, Norton LifeLock, Bitwarden etc, have also suffered security breaches. So it doesn't matter which password manager you choose, they are often targeted by hackers and it's a dumb idea to store the seed phrase electronically. The safest method of storage is by using a piece of paper or metallic steel plate.

[Baki202]

The thing is that everybody has their own way of storing password and seed phrase, I can only recommend the manager that is probably offline, but hence it's online, trust me it can get compromise. There are still some persons that prefer physically storage by putting down their seedphrase on a written note and keeping in a safe place, just to make sure they keep it offline, the password and seedphrase can even be kept separately. So but human beings being who they are, they will want to do what they feel is easy for them.

And some people's way of storing is very risky because when you want to store, you need to be very smart about everything because seed phrase is not something that you can joke with and the best thing you can do is to safe it offline and even when it is offline everyone have to be careful with how they fall for scams that will have to do with how they are given out there seed phrase, because when it comes to seed phrase everyone just have to be very careful because there people that out of greed and imaginary profit. and this are all part of the reasons why we need to learn before we start. any way of keeping is there choice either written or any other offline method.

[The Cryptovator]

For me, though, I saved a few passwords through Google PM. But I don't save something that's crypto-related where I store a big amount of funds. Usually I don't use any online wallet, so it's not necessary to store my password in a password manager. Only a few sites that are not related to big funds I use PM, because I always need to input passwords unless I save them. Even for a crypto exchange that's centralised, I don't use PM consciously.

If you feel storing a seed phrase offline is risky, then you are in a bad situation. You have to secure your seed offline; otherwise, any online password manager isn't safe anyway. Your life is also always in risk when you are out from home; anything could happen. But we always try to keep our life safe. It's the same way you have to secure your seed phrase. Rather secure it in multiple places where you feel it is safe.

[Royal Cap]

If the Seed phrase comes, I will not say.
A PM being hacked is rare, but not impossible and if your PM is cloud synced that adds another possible risk. I think utilizing a PM for a seed phrase would make sense for some people. Especially if it's accompanied with a strong master password and 2FA.
But personally I’d lean more towards having a safe offline backup maybe even separated in pieces and stored separately.

[alastantiger]

I'm not saying others should store their seed phrase in a PM but I do believe it is an option worth considering.
Ultimately it is up to every person to make their own choice. If you don't feel comfortable doing it then don't do it.
Keep your seed phrase offline. Another option is having both - a physical backup plus online backup secured in your PM.

I disagree, I'm saying we shouldn't make use of passwords managers because they're centralized and can be hacked. Google password manager has been compromised before and our passwords were left to the hackers to make use of as they like. I received a message once to update some of the website that I have visited because another site with same password got compromised. Password managers aren't the right ways to stop our private key or seed phrase. Password manager are like you storing them online too then anybody  can get control to your password. I don't mind making use of them for my social media accounts but anything that has to do with money I become extra cautious. Do not make the mistake of thinking that passwords managers can't be hacked because they are easy to penetrate.