Top 10: Password Management services for business

Updated: July 31, 2023

Password management is the practice of securely storing, organizing, and managing passwords for various online accounts and services. It involves using password manager software or applications to generate strong and unique passwords for each account, reducing the risk of password reuse and enhancing security. Password managers typically store passwords in an encrypted database, requiring users to create and remember only one master password to access all their credentials. This centralized approach not only improves security but also simplifies the login process, as users can automatically fill in their login details across websites and applications. Password management is crucial in today's digital landscape, where data breaches and cyber threats are prevalent, as it helps individuals and businesses protect their sensitive information and safeguard their online identities. Some of the most popular password management services are listed below.

See also: Top 10 Password Managers

2018. 1Password improves password strength

The password management service, 1Password, introduces a useful enhancement by allowing users to verify if a password they intend to use has been compromised in previous breaches. In such cases, the service recommends selecting a different password. This feature complements the typical password strength indicator bar, which aims to promote better security habits among internet users. By conducting a pwnage check, the service goes a step further in mitigating the dangers of password reuse, as it verifies whether the chosen password has been involved in any known data breaches.

2016. Password manager LastPass is now free

LastPass, the password manager under the ownership of LogMeIn, has announced a significant update to its service by making a core component available for free. Previously, users could access the browser extension at no cost but had to pay a $12 annual fee to enjoy mobile password portability. However, LastPass has decided to eliminate this fee, allowing users to freely access their passwords on mobile devices. The free services now include essential features such as two-factor authentication, password generation and sync, as well as access from unlimited devices. Essentially, LastPass is now charging only for enhanced features rather than convenient access. It's worth noting that the company continues to generate revenue through its enterprise offerings. LastPass states that this pricing change is driven by a commitment to making password security accessible to a wider audience. However, it is also likely aimed at enticing users away from other paid password management services.

2016. Password management startup Dashlane raised $22.5M

Dashlane, a startup that offers a comprehensive platform for users to efficiently manage their passwords and online identities across various websites and applications, has secured an additional $22.5 million in funding. In today's digital landscape, the demand for identity protection and password security has reached unprecedented levels. As more cloud-based services enter the mainstream, establishing your authenticity becomes increasingly crucial. Unfortunately, the instances of malicious hackers accessing and exploiting user credentials for illicit purposes are on the rise. Dashlane aims to address these challenges by providing a trusted solution. With a user base exceeding 5 million individuals across 150 countries, the company has already facilitated over $6 billion in e-commerce transactions to date.

2015. LogMeIn acquired password management service LastPass

Remote access software provider LogMeIn has completed its acquisition of LastPass, the online password management software maker, for a total sum of $110 million. LastPass, a competitor of Dashlane, 1Password, and similar solutions, offers a comprehensive suite of tools designed to enhance online security for users. Its flagship product is a password management software application that facilitates the creation of strong, secure passwords for various websites, while also providing a secure repository for other private information in the form of "secure notes." In addition to a native desktop application for OS X, which was launched earlier this year, LastPass offers features such as a "Security Check" tool, enabling users to quickly assess the strength of their passwords. The company also provides web browser extensions and a mobile app to ensure convenient access to its services.

2015. Password manager Zoho Vault allows users to sign-up from Android devices

Online password management software, Zoho Vault, has introduced several new features. The Android app for Zoho Vault has been updated to enable users to sign up directly from their devices. This means that users can easily create a personal or organizational account and begin using Zoho Vault on their Android devices. To enhance security, administrators now have the ability to impose restrictions on user access to Vault based on their IP addresses. Moreover, the recent update allows users to choose an existing chamber for importing secrets, eliminating the need to manually add each secret to a chamber after importing. Additionally, users can now effortlessly change the type of secrets, such as from Windows to Unix, without the previous requirement of deleting and recreating the entire secret.