The Best Password Managers for Business

Passwords are your first line of defense against cyberattackers. A strong and secure password can restrict entry to your assets, and protect them from cybercriminals. However, creating and remembering strong passwords is not easy given the number of apps for which you need a password. Do you know that an average individual uses 171 password-protected apps? Imagine remembering unique passwords for each of these apps. It's simply impossible for most of us!

Below are some of the best password managers that work well for organizations of all sizes.

Here is our list of the best password managers for business:

1. Dashlane A secure manager for storing your passwords and other confidential information such as your bank account details, government ID numbers, etc. It's also easy to access anywhere for your authorized employees.
2. LastPass A freemium password manager that secures your passwords while providing access immediately to authorized employees.
3. 1Password A password manager, digital vault, and a secure form filler combined for security and convenience.
4. NordPass An encrypted password vault that helps users to organize their passwords, documents, information, and personal notes securely.
5. Norton Password Manager A secure and simple password manager that protects your organization from password breaches.

Often, to circumvent the problem of remembering passwords, we tend to reuse the same password for multiple logins. This is a dangerous practice because even if hackers manage to break into one password, they can have access to multiple applications.

If you're wondering what to do, don't worry as password managers are the solution to this conundrum. Read on to know what password managers are and how they can help you.

What are Password Managers?

In simple words, a password manager is a secure wallet that stores all your passwords, so you don't have to remember them. It's similar to a notebook that holds all usernames and passwords, except that this is on the Internet and uses encryption to keep your passwords secure from unauthorized users. All that you have to do is remember only the master password for logging into the password manager, and from here you can access all your passwords.

Here are more reasons why you must use password managers.

• Easy to use, as you have to remember just one password.
• Passwords will autofill for your apps, so you don't have to access the password manager each time. Undoubtedly, saves a lot of time and hassle.
• Helps to create and maintain unique passwords for each application that in turn, enhances their security.
• Reduces the chances of phishing attacks.
• You can create strong passwords with random characters, so hackers can't crack them quickly.
• Easy to share your password with trusted recipients.
• Encrypts passwords to protect them even if your password manager gets hacked.
• Highly portable and you can move your passwords across devices.

Now that you know the benefits, it's time to start using a password manager right away. That said, which password manager to choose? Don't worry, as we have you covered.

The Best Password Manager for Businesses

Password managers are ideal not just for individuals but also for businesses as it protects their confidential information and passwords. Let's do a deep dive into the features of these password managers, so you can decide the best fit for your organization.

1. Dashlane

Dashlane is a secure password manager that has never been breached so far (at the time of writing this piece). It is well-suited for organizations as they allow authorized employees to access passwords from anywhere, thereby creating a secure environment for everyone. At the same time, it also enhances employees' productivity, as they don't have to wait a long time to access the tools or services they want.

Key Features:

Here's a look at how Dashlane balances security and productivity in your organization.

• Seamless to Deploy and Use: Dashlane is easy to deploy and doesn't require a ton of technical knowledge or resources. Also, it syncs well across devices, so employees can access the services they want from any device. Its autofill capabilities and easy-to-use interface make it an ideal choice for your employees.
• Secure Sharing: Dashlane makes it easy for your employees to safely and securely share their passwords with other individuals and teams within your organization. This way, they don't have to send the password over insecure channels like Slack or email.
• Protects Privacy: Employees have the option to store both their work and personal credentials in the same login through a feature called Smart Spaces. As the name suggests, every employee can create a Business Space for their work-related information and Personal Space for their credentials. The advantage is that the admin and other employees can access only the Business Space of an employee and not the personal one. With these spaces, Dashlane protects the privacy of individual employees.
• Password Health Score: Every employee in your organization gets a personalized score called the Password Health Score. This value is calculated based on the strength of passwords used, the number of reused password combinations, compromised passwords, and other pertinent factors. Based on the score, personalized security alerts are also sent to the concerned employees, and admins are alerted about employees who have lower than the threshold score.

Overall, Dashlane is a seamless password protection manager that securely stores the passwords of your organization's devices and the applications accessed by your employees.

Click here to start a trial.

2. LastPass

LastPass is a password manager that enhances your security without compromising on accessibility. Also, it provides in-depth control and visibility for your admins, so they can stay on top of your organization's security.

Key Features:

Below are some salient features of LastPass.

• Provides Actionable Insights: A highlight of LastPass is that it provides actionable insights for your admins. With this tool, admins can know who has accessed the password manager and for what. Such insights help to prevent the misuse of privileged accounts and the insider attacks that come with them. Besides this, admins can also create reports using the 100+ templates, which can come in handy for both internal auditing and proving compliance with standards.
• Security: LastPass ensures that your passwords are safe and secure always. The LastPass Password Generator prevents employees from reusing their old passwords and helps to generate strong passwords that are hard to break. At the same time, LastPass makes it easy to share credentials securely with other individuals and groups.
• The IT admin can implement customizable password security policies across the entire organization through LastPass. Also, the visibility it offers into user behavior is unmatched.
• Passwordless Login: With LastPass, you can provide passwordless login to your employees. They can even access their personal LastPass vault and the logins stored in it without having to remember their LastPass password. You can do this using the LastPass Authenticator app, which uses other options like phone numbers to authenticate employees automatically. This capability reduces friction and employees don't have the burden to remember the master password for their vault.
• Centralized Admin Console: Admins can see and control all that happens to your organization's passwords through the centralized admin console. Your admins can update security policies, provision or de-provision users, allow federated logins, manage employee passwords, generate security-related passwords, and more.

In all, LastPass is a seamless option for managing passwords within your organization.

Click here to get LastPass for free.

3. 1Password

1Password is a secure way to store and use strong passwords for devices and applications in your organization. Plus, its form filler ensures that you don't have to access stored passwords each time when you want to log in to an app or enter your personal details.

Key Features:

The features of 1Password are:

• Insights and Reports: 1Password empowers your admin teams to have the insights they need to better secure your passwords. It also enables your admins to understand which users are accessing what passwords and can even implement password-related security policies across the entire organization. With these insights, the admin teams can mitigate security risks related to password breaches, the overall health of passwords, and their usage across different teams. It even integrates with tools like Splunk to create advanced alerts when needed.
• Easy to Deploy and Use: 1Password comes with an intuitive interface that's easy for employees to access their passwords at any time. It's easy to deploy too, as 1Password integrates well with Azure AD, Google Workspace, Okta, and more.
• Secure Sharing: With 1Password, your employees can securely share passwords with other employees or teams within your organization. This capability eliminates the need to manually enter or copy/paste passwords through emails and IMs, and hence, eliminates the risks of unauthorized users intercepting or accessing them.
• Simplified Administration: 1Password makes it easy for your admins to keep your organization's passwords secure. It uses a dual-layer encryption feature, and only the admin holds the keys for decryption. It also means no one at 1Password can see, use, or share your organization's passwords. Plus, its customizable security policies ensure that your organization can be safe from password breaches. Such security features make 1Password compliant with SOC2 and other security standards.

Overall, 1Password is a good choice for organizations looking for password security combined with simplified management. As a bonus, all employees also get a free family vault where they can store their personal passwords and other sensitive information.

Click here to try 1Password for free.

4. NordPass

NordPass is an advanced password manager that allows your organization to store passwords and business-critical information securely. It provides granular control over who can access what password and document and generates audit logs and reports that provide the state of your passwords.

Key Features:

Below are some important features of NordPass.

• Organizes Credentials: NordPass acts as a single storage for all your passwords and other business-critical information. You can even leverage NordPass's Password Generator tool to create strong and unique passwords within seconds. Besides passwords, you can also use NordPass to store your credit card information and other financial details and can streamline access to these critical data.
• Monitors Breaches: NordPass continuously monitors your vaults and checks if only authorized employees are accessing your credentials and information. Likewise, its Breach Monitoring tool scans the Internet for breaches involving the email address of your employees, provided they are registered with NordPass. In case of breaches, NordPass immediately alerts the admins and provides the necessary information to control the impact of the breach.
• Automates Manual Processes: Using machine learning and AI, NordPass automates many routine processes involved with passwords. Specifically, it auto-fills your credentials when needed, so your employees don't have to access the password manager each time. This feature also offers the flexibility to log into any application from anywhere using the stored credentials.
• Sharing Access: NordPass makes it easy to share credentials among your employees for greater collaboration and productivity. There are no limits on how many passwords an employee can share or to whom it is shared. However, the recipients must also be employees and must have the authorization to view them.

In all, NordPass is a secure and simplified way to create, maintain, and share passwords and other sensitive information in your organization.

Click here to start a free trial.

5. Norton Password Manager

Norton Password Manager is a secure password manager that protects your passwords from unauthorized access. It uses a combination of encryption and machine learning to spot weak passwords and provides the granular control you need to streamline access to them.

Key Features:

Here's a look at some of the important features of Norton Password Manager.

• Syncs Across Devices: Norton Password Manager automatically updates changed passwords across all synced devices, so any change is smooth and unobtrusive. Even if your admins change a password, your employees may not even know about it and can continue with their work. Also, your employees can use Touch ID, Face ID, or Android biometrics to access passwords from authenticated mobile devices.
• Password Generator: The Password Generator tool that comes as a part of your Norton Password Manager creates complex passwords that are hard to crack. It uses a long string of alphanumeric characters to ensure that your passwords are unique and strong, so they can withstand any brute-force attack.
• Secure: Norton Password Manager is highly secure as all information is encrypted before it leaves a device. Plus, admins can have complete visibility into the usage of different passwords by employees. All these measures reduce the chances of password breaches and insider attacks.

In all, Norton Password Manager is a simple and convenient option to store your passwords.

Final Thoughts

To conclude, passwords are the window to your digital world and the first line of defense against an attack. However, creating complex passwords and remembering them is not easy. This is also why passwords are often the weakest link in your organization's security. To avoid the repercussions of weak passwords, consider using one of the above-mentioned password managers. Undoubtedly, your password manager can generate complex and unique passwords and keep them safe from unauthorized users.

We hope this information was helpful to you. To read through more such interesting guides, browse www.ittsystems.com.