January 7, 2025
How a Simple Password Manager Could Save Your Business

Password managers have become a tech must-have in the world of cybersecurity. Many people use them for their personal bank accounts, emails, and more. But the security benefits are equally available for small businesses, as well. The truth is it is hard to manage all the accounts and passwords used to run a business. With a password manager, you not only secure your company’s data, but you also make work more efficient for your team.
If you’re not very familiar with password managers, don’t worry, they operate very simply. You can treat them like a vault that stores all your account passwords. All you need to remember is one master password to access the vault. These managers can come in the form of an app you add to your phone or computer and/or tools that work within your web browser. They use strong encryption on your information; so, when you save a password, the system scrambles it and makes it unreadable to anyone who might try to steal it. They also offer the option to generate long and complex passwords that are nearly impossible for cybercriminals to guess. Most of us are guilty of choosing easy passwords to remember, but these are the easiest to crack. With password generators, the passwords are always random by using a combination of letters, numbers, and symbols.
These aren’t the only features you have with a password manager. You can also save sensitive information like credit card numbers and other important documents safely in the vault. You’re also able to share passwords securely with co-workers. This is especially helpful with team projects. Your password manager also offers the option of auto-filling your login information on websites, which saves you time. It’s important to note that this is different from your web browsers and built-in phone password managers that save and auto-fill your passwords. Browser and phone password options don’t always encrypt your information, they don’t offer nearly as many features, they don’t work across all your browsers and devices, and they leave you vulnerable if anyone uses or takes your computer or phone.
If you’re wondering just how safe password managers are, you can rest assured that, while no option is 100% safe, this comes close and is a robust option for your business. Most hacking attempts are the result of user error, so it’s crucial to always follow best cyber practices as a team. Once you’ve created a strong master password and stored your account sites and login info, you’re set. Remember that while you can safely share passwords within your vault, you should never share your master password. Be sure to enable two-factor authentication for that extra layer of protection. Many managers use fingerprints or facial recognition for logging in rather than your master password.
Choosing the best password manager for you is really about preference. The most important thing is finding one that you will actually use—the one you find the most user-friendly. Another thing to consider is the cost. There are free password managers that work well for some, but they often have less features. Figure out what is most needed for your business to decide if a free manager or a subscription works best for your team.
Password managers are truly a powerful tool for your business’s online security. At Tech Eagles, we implement these for all our employees and have numerous clients using them for their small businesses, as well. Give us a call today so, we can answer your questions and get you and your team started on the path to a more secure business!
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