Business password management tools allow employees to safely and securely generate and store different passwords for multiple accounts in one encrypted vault. This allows them to have multiple highly secure passwords that they don’t have to manually remember but will be auto populated by the platform when required. This greatly increases security, and reduces the change of employees using the same password for everything, or needing to carry a physical notepad around with them.
When users make an account, these platforms offer to generate a secure password that is randomly generated. This, along with the email address, is then stored ready to be used whenever the user needs those details. The platforms usually offer a desktop program, app or a browser extension to allow users to easily manage their accounts. Only one account is needed to access the password vault, so users only need to remember one secure password. All information inside is encrypted, so that even if the vault is hacked the information stays secure.
Businesses can use these platforms to enforce company policies around passwords. Many of these services offer reporting, which shows how often people are changing their passwords and how secure the passwords generally are. They also allow admins to enforce regular password changes, which automatically updates the account passwords for employees. Some offer features such as password sharing, which is useful when a team are working on a particular platform or document and have set one password to access it.