Why a Password Manager is a Must-Have

Businesses and their employees ultimately need a lot of different online accounts, which means there are a lot of passwords that need to be sorted. To assist with this, many have turned to using password managers—applications that store passwords in an encrypted vault. There are a lot of reasons that these password managers are a popular choice. Let’s go over a few of them.

Why Businesses Often Take Advantage of Password Managers

Password Managers Save Time

For many IT departments, dealing with the password requests that come from forgotten passcodes creates a major time sink. Using a password manager can greatly reduce these kinds of calls, as all the passwords a user needs are saved in the password manager for their reference.

Password Managers Are Secure

Naturally, as the password manager stores all of your access credentials and other account information, it is important that the manager itself remains secure. In addition to helping its users create more secure passwords with its built-in tools, the modern password manager can help reduce the efficacy of phishing attacks and plays nicely with two-factor/multi-factor authentication measures. They can even help overcome bad password habits by your employees, giving them a convenient way to generate a more secure password.

A word of caution, however, as not all password managers are built to the same standards. The smart business is one that uses a standalone option, not one built into an Internet browser.

Password Managers Are Convenient

Finally, modern password managers make it extremely simple for your users to access and retrieve the credentials they need, whatever device they are using. This is thanks to the use of the cloud to sync these saved credentials. By taking this approach, companies can help to eliminate the temptation that some people may have to still keep a physical copy of their passwords as well.