Data breaches and resulting account takeovers are among the most serious and fastest-spreading digital threats that put sensitive information, privacy, and finances in danger. Millions of individuals feel their effects each year, sometimes as part of a single, huge breach. Companies are even worse for ware, as mounting data breach costs illustrate.
Password managers effectively combat this threat, but not all are up to the challenge. What separates competent password managers from mediocre or downright dangerous ones? Read on to discover which features to look for in a password manager and get the best protection for yourself or your business.
Password. Illustrative photo. Image credit: geralt via pixabay, free license
Secure Storage
Password managers can store countless login credentials. They may even provide storage for form fields you fill in regularly or documents that need extra protection. This only works if there’s a means to secure all this invaluable information. Encryption is the most secure means at our disposal today, and password managers depend on its most sophisticated implementation.
Encryption algorithms like Aes-256 and xChaCha20 scramble the data within password managers’ vaults, making it inaccessible to anyone who doesn’t have the master password. These encryption methods are currently impenetrable with brute force. That makes them highly desirable for individual and business use alike.
Password Generation
Storing thousands of passwords for all your employees is convenient but does nothing to address their security. People will default to using variations of easy-to-guess passwords, or they might have a single strong password they use for several accounts. Both are serious security risks managers handle conveniently through password generation.
Look for a manager that lets you set parameters like length or the use of special symbols to enhance individual password strength even more.
Multi-Factor Authentication Support
At least two entities control any password – its creator and the website or service it protects. Even if you encrypt every password, it can still leak as part of a data breach. Password managers can’t prevent this, but those that incorporate multi-factor authentication can contain the fallout.
MFA introduces another step, usually a code or biometric scan, before it grants account access. On the one hand, this prevents stolen passwords from compromising accounts. On the other, you get login attempt notifications and can generate new credentials to reestablish complete control.
Intuitive UI
User-friendliness should be high on the priorities list, especially when choosing a password manager for enterprise clients since people with varying tech aptitudes need to use the tool efficiently. Try to find screenshots and video presentations online that showcase a manager’s UI. Make sure none of the descriptions or tabs are misleading, and the manager’s frequently used features are easy to get to.
Cross-Platform Compatibility and Sharing
The best password managers combine security with seamless accessibility. That means it’s equally easy to enter stored passwords whether you’re on a desktop or mobile, regardless of the operating system. Your manager of choice should also support extensions for all popular browsers to streamline the verification process while surfing.
Sharing is an important feature for families and teams collaborating on complex projects. The manager should make sharing passwords between verified accounts easy. Still, it should also allow for role creation and flexibility if used for business purposes. For example, regular users should be able to share passwords with others by granting full or limited rights, while admins may disable users’ sharing privileges altogether.
Data Privacy Assurance
What good is a supposedly secure password manager if its parent company collects or even sells your data? A responsible developer will have a zero-knowledge policy in place, meaning they don’t have knowledge of the passwords and documents you store. Third-party audits are a good indicator of trustworthiness, so check that the password manager company undergoes them regularly.
Pricing
Many password managers entice new users with free tiers. These vary by limitations but offer a good glimpse into a manager’s features. Most reputable password managers are subscription-based and may offer sizable discounts when you sign up for long periods. If you’re buying enterprise-level services, check the maximum number of supported teammates and whether signing on more offers any discounts.
Competent Tech Support
No password manager is perfect. The app might act up, or you could have trouble importing an existing password list. How tech support handles such issues is a telling indicator of a password manager’s quality. Read user reviews to see if the manager’s parent company resolves issues quickly and professionally.
Conclusion
We hope finding the right password manager is easier now you know which features to assess. While instrumental, keep in mind that password managers should only be part of your cybersecurity toolkit. You’ll want to augment them with privacy and internet security-enhancing tools like a VPN and anti-malware. Finally, keep up with digital threat developments so you can correct risky behavior and reduce susceptibility to threats.