In this modern world, we are surrounded by technology that needs a password to be able to access it. We are constantly being told to use a ‘memorable password’ however, this generally includes our pets’ names, or our mother’s maiden names, which can be easily hacked and puts all our data at risk.
So how are we meant to remember hundreds of passwords, for hundreds of applications?
Password Managers are a super handy tool, that securely stores your passwords and other login details, which can be stored and accessed either via your browser, your desktop or even on the cloud.
What is a password manager? And what does a password manager do?
A password manager is an app, program, or software that allows you to generate complex passwords and store all your login information in a secure location. Using a password manager means you can easily access all of your login information, which means you’ll never have to guess your passwords again…
A password manager will create strong and unique passwords which help protect your data against potential hackers. They will also store all of your passwords securely and some can synchronize them across different devices so you can access your data no matter what device you are using.
Different types of password managers
There are a few main types of password managers, they are differentiated by what they’re used for and where the passwords get stored.
This type of password manager means that all usernames and passwords are stored on the user's desktop locally. Desktop-based password managers encrypt the user’s data and store them locally on the user’s machine. This option is only suitable for those who have personal computers/laptops and is not appropriate for shared devices.
Cloud-Based password managers store all users’ names and passwords on the password managers server; the data then gets transmitted from the web browser over the internet.
This option is best for those who use multiple devices regularly, especially for people who are hybrid working.
Browsers such as Chrome, Firefox, and Internet Explorer have a built-in option to store user's credentials. Browser-based password managers are usually free with the browser. Google password manager can be accessed on different devices when you log into your google account.
A portable password manager is usually stored on the user’s mobile device or other portable devices such as a USB stick. Though this is a great option for always having access to your data, it can increase the potential risk if the device is lost or stolen.
Token-Based password management is a highly secure version of a password manager. This version requires a 2-step authentication, which includes the user’s login details for the app or software as well as a unique token or code.
This type of password management is common for logging into online banking where the user will be texted a unique code, needed to log in.
What are the benefits of using a password manager?
The biggest, and most obvious benefit of a password manager is that you do not need to memories numerous passwords for numerous websites and applications. This then means you can choose stronger and more complex passwords which means your password is less easily guessed, and therefore less likely to get hacked.
Due to the nature of all your login details being stored in one convenient place, this allows for faster access to your data. If your password manager of choice allows for access across multiple devices, such as Google Chrome password manager, this will also increase the speed and efficiency of accessing your data.
Furthermore, a password manager does not only store passwords, but other login information. Some password managers also can securely store credit card information.
Different providers of password managers for businesses
There are a variety of password managers, suitable for business use that varies depending on the needs of the business and the end-user. Some of our favourites are…
Dashlane is a more modern-day version of a password manager, their interface gives more of a sleek look that is easier to navigate compared to others. Dashlane offers two plans for business use: Team and Business. The Team option allows control from a central admin which includes managing permissions, policies, and remotely wiping accounts.
The business plan offers an extra layer of security using SAML-based single sign-on for quicker and easier logins.
Dashlane also offers a free password manager for individual users, that is recommended to employees to have on their phones or personal devices that may also be used to access corporate data.
Lastpass is a cloud-based password manager that has mobile and desktop apps for most browsers and operating systems. This company also offers two-factor authentication options which is an extra level of security.
Lastpass offers business-specific features such as password generation, one-touch login, automatic syncing, administrator controls, and password sharing, which makes this option great for medium and large-sized organizations.
Keeper offers a subscription-based password management service that has options for SMB’s as well as large-scale enterprises. Keeper offers an encrypted, private password vault for individual users. As well as the strong encryption, Keeper uses a strict zero-knowledge policy, with regular independent audits.
Admins have access to manager user groups, perform security audits, as well as enforce password security policies across the whole organization. Keeper also has the capacity for role-based access which allows different levels of security and access to different people across the business.