Password Management for Small Business

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Why do I need a password manager?

Passwords are often the last line of defense against criminals gaining access to your applications and information.  Making them long and complex will go a long way towards being secure.  Unfortunately, long complex passwords are hard to remember.  Password management for small business provides a simple solution for securing your critical information.

A password manager stores all your passwords in one web-based application along with other useful functions.  Most have a browser extension that will assist the user with logins to websites and cloud applications.  This not only helps users to be secure but also improves efficiency when users are frequently logging into various sites.

What to consider when choosing a solution

There are dozens of password management applications available these days.  How do you go about choosing the best one for your small business needs?

A search for “password management solutions” will result in a wide variety of opinions.  The first thing you should verify when considering the right solution for you is security.  Your password manager will be the virtual keys to your kingdom so you need to be sure they are secure.

Obviously, price will factor into your decision and several password managers offer free versions or at least a free trial.  I do not recommend relying on a free version of any password manager.  Those should only be used for personal use because of the limitations that you will find in them.

Here are a few to consider

I won’t be endorsing any particular solution because your particular needs are likely different from mine.  Instead, here are a few that you should check out so you can decide which works best for you.  Generally speaking, you should expect to pay about $3 to $5 per month per user to get the features you’ll need for your small business.

Each solution listed below links to their website so you can research each.  Look for features like Two-factor authentication capability, centralized management counsel and secure password sharing to help decide which is best for you.  Some solutions will offer online storage for users but I would not put too much value in that if you already have a solution like Microsoft OneDrive.  Learn more about the benefits of OneDrive here.

LastPass (Teams Version)
Dashlane (Business)
Keeper (Business or Enterprise)
1Password (Teams Version)
RoboForm (For Business)
ZoHo Vault (Professional)

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