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How to Select the Best Password Management Solution for Your Enterprise

By February 4, 2020 No Comments
Password Management Solution for Your Enterprise

Companies are collecting huge data from their customers. You can use this data for making better decisions. However, security is also becoming more important with time. Cyberattacks are becoming more complex with time. Hackers are using complex attacks for attacking corporate networks. Still, passwords are the biggest challenge in network security.

Most times weak passwords are the root cause of security breaches. Hackers can easily crack these passwords by brute force attacks. Thus, they can easily gain access to your system. They can even use simple attacks like social engineering attacks for getting access to your network. Sometimes they can just install a keylogger in your employee’s system. This can give them access to some part of your network. After getting the admin passwords, they can access your whole network.

According to a report by Verizon, more than 80% of data breaches occur due to weak passwords. More than 29% of security breaches occur due to stolen passwords. Thus, weak passwords are still the biggest risk for your enterprise. Enterprises need to think about how to manage their access lists and passwords. You have to also consider many legal issues. For example, California has already blocked the use of weak passwords. Most people don’t change the passwords of their IoT devices. Thus, hackers can use the default passwords for hacking into your network. You can’t use default passwords like “admin”. Every device must have a unique password. This will help you in preventing cyberattacks.

It is difficult to manage your passwords manually. Thus, there are various password management tools available in the market. In this article, we are going to discuss some of the best password management tools.

What is Password Management?

Password management software will allow you to centralize your security controls. It will protect your network from attackers that want to steal credentials or passwords. Password management tools can protect you from both insider and external security threats. It will also help you in managing role-based access. This will simplify the password security process.

If you have a large enterprise, then it can be difficult to manage access. You need to invest a lot of time in managing access. If your employees are moving from one location to another, then you need to create new passwords. After that, you also need to delete old passwords. All this must be done in real-time. This will ensure that you have a secure and shared system.

There are many password protection solutions available in the market. But, they are mostly applicable to consumer-level only. They can’t handle the complexity of big enterprises. If you are using a manual approach like a spreadsheet, then it can create the potential for theft.

Enterprise password management solutions will help you in storing your passwords. They will use encryption technology for protecting your environment. These tools also use best practices for password removal and creation. They will also help you in monitoring your employee’s passwords. Thus, these tools will help you in improving your network security. Also, they won’t affect your employee’s productivity.

Best Password Management Solutions for Enterprises

There are various enterprise password managers available in the market. But, it is difficult to find the perfect solution for your enterprise. We are going to discuss some of the best password management solutions.

  1. LastPass

LastPass is one of the most famous password managers available in the market. You can use both their browser extension and mobile application. They will store your passwords in a secure location. LastPass uses multi-factor authentication and a master password for protecting your data vault. They will use encryption and hashes for encrypting your password. If you are using a mobile application, then you will also get access to biometric authentication. This will increase the security level of your data vault.

  1. Dashlane

Dashlane is actually a password generator. You can use it storing and creating complex passwords. They will automatically change passwords after 90 days. Dashlane will use encryption technology for protecting your passwords. It will also check the internet for stolen data. In case of a possible password leak, they will alert its users. Thus, you can change your password before someone uses your account.

  1. 1Password

This software will provide you with a virtual data vault. You can use it for storing passwords and other sensitive data. They will use the PBKDF2-master password for protecting your data. Also, they are using multi-factor authentication for protecting your vault. You can access their services by downloading their extension. They also have separate plans for enterprises. Thus, this service is perfect for large enterprises. You can also use it for storing your passwords locally. It will also allow you to synchronize your files by using cloud services.

  1. Thycotic Secret Server

This service is available for both cloud and on-premises networks. You can use it for managing thousands of passwords. Thus, it is perfect for large enterprises. It is using AES 256 encryption for encrypting your data. They will also provide your real-time backup. This will ensure that you can always access your data. The secret server offers various enterprise packages to its users. Thus, this tool is perfect for enterprises.

  1. CyberArk

CyberArk is using a centralized data vault for storing your passwords. You can use it for storing passwords and SSH keys. It will also provide you with auditing features that you can use for monitoring your accounts. CyberArk is the most secure option available in the market. However, this solution is more expensive when compared to other solutions.

Conclusion

Password management can be a serious issue for large enterprises. Data breaches mostly occur due to poor password management. Thus, you have to ensure that your employees are using strong passwords. It is difficult to manually manage your access control. Thus, enterprises are always looking for a good password management solution. These solutions will help you in effectively managing your passwords. Also, they will help you in managing access controls. If you want more security tips, then you contact Bleuwire.

Contact us today to learn about Bleuwire™  services and solutions in how we can help your business.

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