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The Best Password Managers for Small and Medium-sized Businesses [2022] 

By June 16, 2022June 21st, 2022No Comments

When a well-known password hack makes the news, it is, to say the least, unsettling. Most of the time, when the passwords are found out, they are very easy to guess. Passwords like password123, iloveyou, qwerty, or 123456, if that is you then go change your passwords right now. 

But we see why it happens. You have SO many passwords for SO many different services these days that it’s REALLY hard to remember which one goes with which service. So you choose something that will be easy to remember, and then you use that name or a slight variation of it everywhere. 

The problem is that if one of your accounts is hacked, all of your other accounts could be too, since they all use the same login information. 

If you do this, it’s almost certain that your employees do it too. This puts your business systems at risk, since weak or stolen passwords are one of the most common ways cybercriminals get into systems. 

How do you help employees make and remember complex passwords that are unique to them? That’s why you need a password manager. Password managers help you make and store passwords that are hard to remember. 

How Does a Password Manager Work? 

A password manager is a piece of software that helps you make strong, unique passwords for all your online accounts, store them in one place, organize them, and keep track of them. With a password manager, all you have to remember is one master password. The rest is taken care of by the password manager. You no longer have to rely on your memory, sticky notes, or spreadsheets to remember hundreds of passwords because they are all in one safe place. 

Businesses can get a lot out of password managers: 

  • Keeps all of your employees’ passwords for their online accounts safe. 
  • Helps employees make strong passwords that are different for each account. 
  • Keeps track of when passwords are set to expire 
  • When you need to, it lets you safely share passwords with contractors or vendors. Helps your business improve its cyber security in general. 

How Your Business Can Choose the Best Password Manager? 

When choosing a password manager for your business, there are a few things to keep in mind: 

  • How many people you’ll need to serve. 
  • Which features, like secure sharing 
  • Two-factor authentication 
  • Encrypted backups  
  • Unlimited password storage,  

Which are the most important to you? 

Your budget 

We know that budgets are real, and just because you want to give your employees a way to keep track of their passwords doesn’t mean you have the money for it. 

If so, employees can use the password manager that comes with their work cell phones. Most Android phones and iPhones come with password managers already built in. It’s not nearly as good as having a central hub for your business, but at least credentials won’t be written on sticky notes and stuck to employees’ monitors or saved in their web browsers. 

If you want to learn more about how a company-wide password manager can make password safety and security easier, or if you need help figuring out which password management solution is best for your needs, PCtronics is here to help!