The 6 best password managers for business

What’s a password manager?

A password manager is a program that stores passwords and logins for various sites and apps, and generates new strong passwords when a user needs to change an old one or create a new account. Users can sign into a password manager with a single strong password or by using biometrics, and access all their login information.

Most password managers allow users to sign in on multiple devices (including Macs, Windows machines, and iPhone or Android smartphones) and work with multiple browsers (including Chrome, Firefox, Safari and Microsoft Edgfe) to automatically fill in username and password info, storing encrypted password information and facilitating secure synchronization between devices. And while these tools got their start in the consumer world, most offerings now have editions aimed at businesses with enterprise features.

Is a password manager a good idea?

While it may seem counterintuitive at first to entrust security to a single password manager app accessed by a single password, using a password manager is in fact a very good idea. Most people have difficulty remembering more than one strong password, so they often end up either reusing a password across sites—meaning that a hacker who discovers the password can go on a break-in spree—or using weak passwords that are easy to defeat by brute force.

A password manager will autogenerate random new strong passwords for all of a user’s accounts, and users can access their various account credentials using either a single strong password, multifactor authentication or a passwordless security model.

Business password manager: 4 features to look for

A password manager isn’t just a boon for individual users; it can boost the security of enterprises as well, and there are a number of business-focused features that you should look for if you’re aiming to roll one out for your company:

Administrative capabilities for managing multiple users and applications. Some offerings include capabilities to automatically provision and de-provision user access to applications based on their group membership. Tools to manage password policies are a must-have and should include the ability to manage complexity rules and change requirements.