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How to choose the best password manager for your business

May. 20, 2021 IT Support for Business

Keep your business safe with the best ways to create, save and organize your passwords

Now more than ever, cyber crime is at an all time high—a cyber attack incident is expected to occur every 11 seconds. [1]

One of the keys to keeping your business safe? Passwords.

Managing your passwords is one of the best precautions to take when it comes to cyber safety. Learning how to create, save, and organize your passwords not only effectively protects your business, but your employees too.

Continue reading to learn the best methods for creating, saving and organizing passwords for your business, plus how to choose the best password manager.


What should you consider when creating a password?

When it comes to creating a password, each employee should be using different and complex passwords—no two should be the same.

Each password created should be using a combination of upper-case letters, lower-case letters, numbers, and symbols. Each password should be longer than 8 characters and should not include any personal details. It is also recommended that you change your passwords every 60 to 90 days and you should be using a different password for every platform you use. Following this password creation process will make it more difficult for a hacker to crack the code. 


What’s the best way to organize and save your passwords?

Creating a different password for every single platform you use can be overwhelming. That’s why you need to utilize an enterprise-level password manager for your business. A password manager for business does all the hard work for you including keeping track of all of your passwords and identifying duplicates or weak ones. There are a multitude of programs to choose from such as 1password, ITBoost, Last Press, and Dashlane, follow our guidelines below to determine which option is right for your business.  

Notice however that storing passwords in the cloud could also be risky as hackers want to access larger stores to hit the most victims. The ultimate good solution is a locally stored, encrypted system that not only cannot be hacked, but is isolated from the crowd. Our team can help you identify and implement a solution that is cost effective, convenient for the user, and most of all secure.


Related resource:

The 6 best cybersecurity practices for your business


How do you choose the best password manager?

When choosing the best password manager for your business, consider the following:

  • Security: You want to ensure the program is using the latest security features and is up to date.
  • Device Compatibility: Being able to access your different accounts from different devices at all times is crucial, especially in today’s world with remote work being more common. 
  • Coverage: You want to make sure you are able to have a large storage capacity as well as the ability to sync to different devices. 
  • Price: When using a password manager program for business, you’ll pay on a per-user basis and have the ability to scale up or down.
  • Bonus Features: Many programs will have “bonus features” to help them stand out from the competition. Read through the different features of the different programs to decide which one is the right fit for your business. 


Is multi factor authentication necessary? If so, how does it work?

Multi factor authentication is something that is commonly recommended when it comes to keeping your accounts secure, but is it really necessary? The answer is yes because it provides an extra layer of safety for your business and your employees.

Multi factor authentication works by generating a code that is sent to your email or mobile device when attempting to login. Using two different entry points effectively reduces the risk of a security issue. In some cases, there will be a time limit on said code, which will then require a request to generate a new one. Utilizing an authentication app such as Google Authenticator, Authy, or LastPass is a good way to help organize different passwords and ensure easy authentication. The three factors multi factor authentication uses to identify the correct user includes something you know, something you own, or something you are.


In conclusion

At the end of the day, hackers are imminent. It’s the measures you take to protect your business and your employees that will ultimately pay off. Implementing these password protection methods will give you peace of  mind when operating your business because you’ll know your accounts are secure.


Ready to experience the NeverBlue IT difference?

With over 30 years of experience, we’re proud to use our hands-on IT service management approach to help businesses across Central Florida and Southeast Michigan scale and grow with a comprehensive range of IT solutions.. 


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1: Security Boulevard | Cybercrime Expected to Rise At an Unprecedented Rate in 2021

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