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7 Best Password Managers for Business in 2023 (Newly Updated)

Last updated on October 19th, 2023 at 07:27 pm

It was easy to set a password earlier when you could use the same password for multiple accounts or use a sequence or your family member name as a password.

However, the necessity for complex passwords and reliable means to save them has contributed significantly to the introduction of password management apps.

Because more and more personal and financial information is being saved digitally.

Today, users can generate complex passwords with best password managers for business and quickly sign in to their accounts without remembering them.

Some of them also offer secure private browser networks, analyze reports for data leaks, and test the reliability of passwords.

Please take note that our team chose each of these password manager services on its own.

As additional alternatives become accessible, we’ll be continually refreshing this post.

7 Best Password Managers for Business in 2023

We evaluated many best password managers for business and selected the top ones based on various factors, including cost, reliability, usability, added security features, and value of free packages.

Here are some of our favorites.

So give up the sticky notes to get mental peace.

Your first line of defense against hacking should be a reliable password manager.

1. NordPass

NordPass offers robust password management solutions for businesses with the following features:

  • High Security: NordPass ensures top-notch security with advanced encryption algorithms and a zero-knowledge architecture, safeguarding stored passwords from unauthorized access or data breaches.
  • Cross-Platform Compatibility: NordPass is compatible with various operating systems, including Windows, macOS, Linux, iOS, and Android. It also supports popular browsers like Chrome, Firefox, Safari, and Edge, allowing seamless integration across multiple devices.
  • Password Sharing: NordPass facilitates secure sharing of passwords among team members, streamlining collaboration on shared accounts or projects. It offers convenient tools for managing and organizing passwords, such as folders and tags, for easy access and organization.
  • Secure Password Generation: With NordPass, you can generate strong, unique passwords with its built-in password generator, eliminating the need to create and remember complex passwords manually.
  • Additional Features: NordPass also provides features like secure notes and a digital wallet, allowing users to store sensitive information securely.

2. Zoho Vault:

Zoho Vault is a comprehensive password management solution designed specifically for businesses. It offers the following key features:

  • Centralized Password Storage: Zoho Vault provides a centralized vault where businesses can securely store and manage their passwords, ensuring easy access for authorized team members while maintaining control and security.
  • Password Sharing and User Access Control: Zoho Vault enables secure sharing of passwords among team members, facilitating collaboration without compromising security. Administrators can define user access levels, ensuring authorized individuals can view or modify specific passwords.
  • Two-Factor Authentication (2FA): Zoho Vault supports two-factor authentication, adding an extra layer of security to protect against unauthorized access and enhancing overall password security.
  • Activity Monitoring and Audit Trail: Zoho Vault offers detailed activity logs and an audit trail, allowing administrators to monitor password usage, track changes, and enhance accountability and compliance.
  • Integration with Single Sign-On (SSO) Solutions: Zoho Vault seamlessly integrates with Zoho’s Single Sign-On (SSO) solution and other popular SSO providers, simplifying the login process and improving efficiency and security.

3. LastPass

One of the most widely used password managers in the business is LastPass.

With easy and safe password management for teams with an enterprise identity management solution that integrates password management with multi-factor authentication and single sign-on for users, LastPass offers several levels of identity management.

  • It is the best password manager overall.
  • It is limited to one device free plan and has a base fee exceeding the accessible version of $36 per year.
  • It has an open-source CLI.
  • It is compatible with macOS, Windows, iOS, Linux, and Android.
  • It supports browser extensions for Firefox, Chrome, Internet Explorer, Safari, Opera, and Edge.
  • The free version stores user credentials (Emails and passwords) and synchronizes them on your mobile phones and browsers. Although now, you have to choose the device between a phone or desktop unless updated by choosing $36/year.
  • The paid version also lets you save and share credentials. The bonus is you can also share them with trusted friends and family members, employ multi-factor authentication via YubiKey and offer 1GB of encrypted storage.

4. BitWarden

As a reliable open source password manager, Bitwarden lets users save and access all of their passwords and confidential data from any place or device.

An array of solutions are available, including a free option for those who don’t have the money or resources to pay for the service.

You may simply share encrypted data with other members of your business using Bitwarden’s best password managers for business, storage features, and password generation features.

  • It is the best free password manager to use.
  • It is secure, open-source, and transparent.
  • It offers a free plan for unlimited devices, and its paid plan begins at $10/year only.
  • It is compatible with macOS, Linux, Windows, iOS, and Android.
  • It supports Tor, Chrome, Safari, Firefox, Edge, Vivaldi, Opera, and Brave browser extensions.
  • It can suggest, save and fill your passwords on all browsers and devices with the utmost security and a 1:1 texting option.
  • Its paid version lets you save and share credentials across devices with FnFs, uses MFA via YubiKey and offers 1 GB of encrypted storage.

5. DashLane

Dashlane is an easy-to-use password manager for business that guards against credential-based security breaches for its customers.

Both technical and non-technical clients find it impactful because of its user-friendly interface and extensive security options.

Help desk resources are freed up and productivity is boosted by using Dashlane, which protects business data.

  • It offers a limited free plan for up to 50 passwords per device)
  • Its premium version costs $60 a year.
  • It works with macOS, Windows, iOS, and Android.
  • It has browser extensions for Safari, Firefox, Chrome, Edge, Internet Explorer, and Opera.
  • Its free version allows you to save up to 50 passwords on a device.
  • Its paid subscription is the same as LastPass, which lets you save and share passwords across devices and FnF, use MFA via YubiKey and offer 1GB of encrypted storage.

6. 1Password

Using 1Password for team password management provides safe, scalable, and easy-to-use password storage.

By storing passwords in secure vaults and enforcing two-factor authentication, their technology makes it easy for employees to stay safe online.

Employees may access their credentials from any browser or device since passwords are synchronised across browsers and devices.

  • It comes with a 2 weeks free trial plan, and its premium subscription’s base price is $35.88/year.
  • It runs on macOS, Windows, ChromeOS, Linux, iOS, and Android.
  • It has Safari, Firefox, Chrome, Opera, and Edge browser extensions.
  • It is one of the best password managers for business as it lets you access your online profiles with one master password and keeps your data safe.
  • It doesn’t come with a free plan but lets you use it for 14 days for free.
  • Its paid plan offers 1GB of storage and 2FA via Yubikey, a travel mode that allows you to remove your private data from the device while traveling and then restore it with a click. It has a biometric verification option for iOS (plus a faceID feature) and Mac. You can have 5 people use one account and share credentials (for WiFi) with each other even though they all have a distinct vault.

7. Keeper

Keeper is a market-leading business password management system that delivers enterprise password protection to assist promote better password practices among employees, avoid account breaches, and fulfill business compliance requirements.

Users may create strong, random passwords for all of their company’s accounts and apps with Keeper.

All of this information is kept in a safe, encrypted vault that is accessible to only the individual who created it.

A password managers for business like Keeper may boost staff productivity, lower the risk of data breaches, and verify compliance standards are being fulfilled.

  • It provides a free version limited to one device only with unlimited passwords.
  • Its premium subscription starts at $35.
  • It is compatible with macOS, Windows, Linux, iOS, and Android.
  • It supports Safari, Firefox, Chrome, Edge, Internet Explorer, and Opera browser extensions.
  • Its paid plan allows you to sync passwords on many devices with 10GB of storage and dark web monitoring.

Importance of Best Password Managers for Business

There is no space for error when selecting a new password.

You expect your data to be preserved and your private details to be safe.

Therefore using weak passwords like a pet name or a straightforward number sequence like 12345678 poses a risk.

Although risky, that level of sloth is reasonable. Because the people trying to steal your data are experts at cracking passwords, you must be equally vigilant in protecting your accounts.

You may need to consider using a password manager unless you want to continually protect a printed version of all your passwords.

With assistance, you can keep track of, manage, and securely save your login information for every account online.

Additionally, they can be helpful in automatically completing forms and synchronizing data between Mac and Windows computers, Android, iPhones, iPads, and other devices.

The strong password credentials you use to sign in to the apps and profiles on your mobile phone, sites, and other applications are stored in a password manager, an encrypted digital vault.

The most vital password managers for business also have a code generator to make strong, one-of-a-kind passwords and ensure you are not using the same password multiple times.

This keeps your credentials, identity, and confidential data protected.

Having a different password for every location will help to ensure that if one website is hacked, your hijacked password cannot be used elsewhere, especially in light of all the current headlines of security vulnerabilities and identity fraud.

In essence, you’re utilizing several passwords to build your own security mechanisms.

Additionally, if you’ve a password manager, you won’t need to keep track of numerous other details like mailing addresses and credit card details.

You can autocomplete a form or password box using only one master password or, in some situations, a PIN or your biometric.

Some offer an encrypted vault for keeping files and internet storage as well.

While our choice for the top free password manager could be used for synchronizing across several devices, all of our best password managers for business  come with free options or a trial version and typically let you privately save credentials for one gadget.

And they all use YubiKey for hardware verification.

The membership options offered by our top selections for password security managers enable users to access data, save sign-in details across devices, and share their passwords with loved ones you can trust.

Benefits of Best Password Managers for Business

Businesses face numerous cybersecurity threats in the modern digital landscape, making strong password management an essential practice.

Implementing the best password managers specifically designed for business use can offer several benefits, including:

  1. Enhanced Security: Password managers provide a secure way to store and manage passwords, reducing the risk of weak or reused passwords. They often generate strong, complex passwords and encrypt them, ensuring that sensitive credentials are protected from unauthorized access.
  2. Convenience and Efficiency: Password managers streamline the login process by automatically filling in login credentials, eliminating the need to remember or manually enter passwords. This convenience improves productivity, saves time, and reduces the likelihood of errors associated with password input.
  3. Centralized Password Storage: The best password managers offer a centralized vault where all passwords are securely stored. This centralization simplifies access to passwords, allowing authorized team members to retrieve and use them when needed. It eliminates the need for insecure practices such as sharing passwords via unencrypted channels or storing them in unsecured locations.
  4. Secure Password Sharing: Many password managers provide safe password-sharing features, enabling authorized users to share passwords with colleagues or team members without compromising security. This is particularly beneficial for collaboration on shared accounts or projects, facilitating efficient teamwork while maintaining control and accountability.
  5. Multi-Factor Authentication (MFA): Top password managers often integrate with multi-factor authentication (MFA) solutions, adding an extra layer of security. MFA requires users to provide additional verification factors, such as biometrics or one-time passwords, further protecting accounts from unauthorized access.
  6. Audit Trails and Reporting: Password managers designed for businesses often offer audit trail functionality, allowing administrators to track password usage, changes, and access history. This feature enhances accountability, aids in compliance requirements, and helps identify potential security breaches or suspicious activities.
  7. Cross-Platform Compatibility: The best password managers are compatible with various operating systems, browsers, and devices. This cross-platform compatibility ensures seamless integration and password access across multiple devices, regardless of the operating system or browser used.

By utilizing the best password managers for business, organizations can significantly enhance their security posture, streamline password management, and improve overall productivity while mitigating the risks associated with weak or compromised passwords.

Final Words

In conclusion, NordPass and Zoho Vault are two reliable options to consider when it comes to password managers for businesses.

NordPass offers strong security measures, cross-platform compatibility, and convenient password-sharing features.

On the other hand, Zoho Vault provides centralized password storage, user access control, and integration with single sign-on solutions.

Both password managers offer robust features to enhance password security and streamline access management.

The choice between them depends on the specific needs and preferences of the business.

Prioritizing using a reputable & best password manager for business can significantly enhance data security and help companies to protect their sensitive information from unauthorized access.

FAQs on Best Password Managers for Business

1: What is the best password manager for business?

The best password manager for a business can vary depending on specific needs and preferences.

However, popular options often include NordPass, Zoho Vault, LastPass, Dashlane, and 1Password.

Evaluating features, security measures, and compatibility with business requirements can help select the most suitable password manager.

2: What features should I look for in a password manager for business?

Key features to consider when selecting a password manager for business include:

  • Strong encryption.
  • Secure password sharing.
  • Centralized password storage.
  • Multi-factor authentication.
  • Cross-platform compatibility.
  • User access control.
  • Auditing and reporting capabilities.
  • Integration with single sign-on (SSO) solutions.

3: How do password managers enhance security for businesses?

Password managers enhance security for businesses by providing secure storage and encryption for passwords, generating strong and unique passwords, promoting password hygiene, offering multi-factor authentication options, facilitating secure password sharing among team members, and enabling centralized control and management of passwords.

4: Are there any considerations for team collaboration with password managers?

Yes, team collaboration is an important aspect to consider.

The best password managers for business should allow secure password sharing among team members, offer granular user access control, and provide audit trails to monitor password usage and changes.

Features like shared folders, tags, and role-based access control can enhance team collaboration and streamline password management.

5: Can password managers integrate with other business tools and systems?

Yes, many password managers offer integration capabilities with other business tools and systems.

This includes integrating single sign-on (SSO) solutions, allowing seamless authentication across various platforms.

It is essential to assess a password manager’s compatibility and integration options with existing business infrastructure.

Remember to thoroughly evaluate the features, security measures, compatibility, and user-friendliness of different password managers to choose the one that best suits your business’s specific needs and enhances overall password security.

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