The best password managers, along with efficient password and credential management, are becoming more crucial as more and more business is conducted online. Your company will be more immune to cybercrime if you make sure the password manager you select provides the majority or all of these.
Whether through widespread hacking or targeted efforts, cybercrime continues to pose serious hazards to organisations. In light of this, it makes sense for businesses in particular to invest in the best password managers. How can you select from the best password managers, though?
Below are the five key characteristics you should consider while selecting a password manager. These essential components, in our opinion, are what separate a good platform from a just good service.
1. End-to-end encryption
A password manager's superior encryption is its most crucial component. It is a must. In the end, password managers are really all about data security, and without end-to-end encryption, your data won't be safe enough.
Your data is indecipherable while it is in transit and at rest thanks to end-to-end encryption. A special authentication key must be given for the platform in order to decode the data. The only person with access to this authentication key is the user thanks to end-to-end encryption.
This implies that no one, not even your provider, can access your passwords. Your encrypted and unreadable data is all that is stored by the platform. Your passwords will therefore be secure even if the provider is compromised.
End-to-end encryption, also known as zero-knowledge architecture, enables a provider to encrypt and store client data at the greatest levels of security without knowing what data is being stored. It is the first thing you should look for if you want to keep your organization's passwords and credentials in the most secure manner possible.
2. Multi-factor authentication (MFA)
While we're talking about security, let's talk about MFA. Users must log in with MFA and a secondary authentication method in addition to their password. This guarantees that a user's account will probably stay secure even if their master password is stolen.
An app-generated unique code or a one-time password are both acceptable forms of secondary authentication. These supplementary techniques are typically connected to a user's personal device, like their mobile phone or personal email address. This makes sure that a user needs their email address or device in addition to the master password to access their account.
Because user login is one of the most major points of vulnerability across all password managers, MFA is one of the simplest ways to boost your account's security. If a user's master password is compromised and a provider doesn't have MFA procedures in place, then all of the encryption and security measures in the world won't matter and their data could still be exposed.
Selecting a password manager with MFA capability is something we strongly advise.
3. Regular updates
Make sure to verify that your preferred options are up to date because password managers, like any other piece of software, must be kept updated. You should invest in a password organiser that is regularly updated to keep up with the ever-changing security landscape because hackers and other cybercriminals constantly change their tactics and behaviour.
4. Password creation
The first challenge we all confront is coming up with a strong password. You should gain the further advantage of the software's ability to produce a new log-in anytime you require it by investing in a high-quality password manager. This will always be considerably superior than anything you generate yourself, therefore it should be secure and safe.
5. Setting up passwords
There is an additional benefit to using a password manager if you have been using log-ins for any length of time. There are many password manager programmes that can analyse your current password collection and let you know which ones are weak or possibly have previously been compromised. They frequently have the ability to compare them to databases of compromised log-in details, and they can offer advice on how to update details to best protect against possible assaults.
