Password management tools are software programs that help you create, store, and manage your passwords while providing security and safety mechanisms to ensure there’s no password breach.
Your employees can use these programs to generate random, high-security passwords per industry best practices. Employees don’t have to worry about remembering their passwords either, because these tools have built-in mechanisms to store the passwords securely and retrieve them automatically when needed. All passwords are encrypted and stored privately so no one, other than the authorized user, has access to their passwords. A good password manager also provides timely password update reminders and password reset features to make those activities painless.
Business-focused password management tools make it easy for you to enforce role-based access permissions. For example, a data entry executive may be able to enter data into the service only once, and may need authentication from the manager to edit the data. Alternatively, only someone at the managerial level may be allowed to make edits to the data. Some password management tools offer administrators and managers a full view of the logins and generate detailed access reports - you will know which user logged in, at what time, using which device. Advanced tools can also send alerts when there’s a login from devices, networks or locations that are unusual.
Some password management tools also support multi-factor authentication, thus helping you make this important security feature a part of your data security process.
There are a variety of password management tools available. While their basic function is the same - keeping your passwords secure, password management tools can offer you a lot more in terms of data security. Consult with an MSP (like Logical Operators) who is familiar with cybersecurity so they can help you pick the password management tool that’s right for your business. But, remember, at the end of the day, there’s no substitute for good password hygiene, so no matter what tool you deploy, you still need to educate and train your employees to follow good cybersecurity practices.