If you’re like me and have a lot of passwords to remember, a tool such as LastPass is invaluable. Tools such as these are always a trade-off between security and convenience, but for me I’d be using the same password on many different sites if it wasn’t for LastPass creating random ones for me. So LastPass definitely increases my password security.
If you’ve had a LastPass account for a while then you may still have the original Password Iterations setting of 1. This setting tells the LastPass client how many times to go over your master password with it’s SHA-256 algorithm, before using the result to decrypt your passwords. More is better (higher security) although it can’t be too high if you use devices with low processing power.
So – go to your Account Settings in LastPass and check your password iterations. Increase it to at least 500 if you can. If it runs too slowly on your phone then reduce.
For more information, see the LastPass help page.