this post was submitted on 28 Sep 2023
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Yeah at this point it's considered likely that LastPass vaults are being cracked, based on LP being the common link between various other accounts that are being breeched.
A small number of rounds of encryption being the default for users with old enough accounts is believed to be a significant part of the issue. It means even if their password was a good one, the vault can be brute forced comparatively quickly.
If their password was actually good (18+ random characters) it's not feasible with current day technology to brute force, no matter how few PBKDF2 iterations were used.
Obviously it's still a big issue because in many cases people don't use strong enough passwords (and apparently LastPass stored some of the information in plaintext) but a strong password is still good protection provided the encryption algorithm doesn't have any known exploitable weaknesses.