An overview of password managers
Password managers aren’t one-size-fits-all. The right one for you and your team depends on your company’s approach to cybersecurity—and what kinds of passwords or passkeys your preferred apps support.
How do password managers work?
Secure password managers allow you to store, encrypt, and autofill passwords. When you use a password manager, you no longer have to remember strong passwords, think of new passwords, or worry about your employees using weak passwords that can expose your online accounts and other sensitive information.
Even the most basic password manager will offer:
Password generation
Username storage
Single-device login
Web-based access
And if you use one of the full-featured password managers on this list, you can also get access to functionality like:
Unlimited password generation and storage
Secure sharing tools
Administrator management of company accounts
Secure file storage and encrypted email
Multiple forms of identify verification
Desktop apps, mobile apps, and browser extensions
That said, you will still need to remember one master password to secure your password vault!
What you need to know about password managers
Password managers offer different kinds of storage, security, and features.
Cloud vs. on-premise storage
Cloud-based password managers let you access your passwords anywhere, which is convenient, but it may create a security risk. While password management companies have strong security measures in place on their own servers, it’s possible that a data leak or breach could occur. And if one of your team members loses their mobile device—or it gets stolen—then someone else might have access to your company’s systems.
An on-premise password management system is one alternative, but you’ll have to set it up on your company’s servers and perform necessary maintenance. This isn’t always an option for small teams.
Single sign-on (SSO) security
Single sign-on compatibility can make cloud-based password managers more secure. SSO is a process of authentication that allows you and your team to log into the password manager with another ID. (Not all password manager apps support this.) When you use SSO, you can require that your employees set secure passwords, improve identity verification methods, and disable accounts as needed.
For a true SSO experience, you’ll need to use an identity service provider (IdP) like Okta, which also works as a password manager. However, lots of apps now let you log in with a Google Workspace account, which can provide some similar benefits. As long as your workspace admin isn’t compromised, you can remotely disable the accounts of colleagues who have experienced a data breach or lost a device.
Multi-factor and two-factor authentication
Multi-factor authentication (MFA) and two-factor authentication (2FA) add another form of verification on top of a password. When MFA is enabled on a website or app and you try to log in, you’ll be prompted to do something like:
Enter a code from an email or text message
Enter a code from an authenticator app like Google Authenticator
Verify a passkey with biometric data, like your face or fingerprint
Insert a physical security key into your device
An increasing number of websites and apps support MFA or 2FA, so we recommend using a password manager that has additional authentication features built in.
Choosing the best password manager
If you aren't sure where to start when it comes to picking the right password manager, try our favorites based on organization size.
For individuals and small teams
If you’re running a small organization and need a basic password manager, start with the ones you already have, like Google Password Manager in Chrome web browsers and on Android devices. The fact it’s so accessible makes it one of the best free password managers around. If you’re not a Google user, there’s also a password manager baked into the keychain on iOS and MacOS operating systems.
And if you’d rather use a password manager that’s not linked to your Google or Apple iCloud account, try Bitwarden. It’s a well-respected password manager that lets individual users store an unlimited number of passwords on its free tier—and shared premium plans start at a low $4 per month.
Roboform is another nice option with a generous free plan, and it also acts as an authentication app to generate time-based one-time passwords (TOTP). Because of this, you can use it in place of Microsoft Authenticator and similar services. Plus, you can upgrade to a paid plan with more features in the future if the free version no longer meets your needs.
For growing companies with a cybersecurity team
Medium-sized and growing companies with a small cybersecurity budget can take advantage of additional security features in paid password manager apps.
We like that NordPass lets you share passwords and company credit card details securely with other users through the app. This is particularly helpful if you work with contractors who need temporary access to certain platforms but aren’t eligible for a user seat of their own.
Dashlane is another good choice—it offers a nice mix of password management and additional security features. This includes dark web monitoring alerts to let you know if company passwords have been exposed.
For large enterprises
Very large organizations are best served by a password manager that supports SSO and company-wide account administration that lets IT teams secure compromised accounts. We like how comprehensive 1Password is: it lets you store passwords, credit card data, and even sensitive documents all in one spot. If you have over 75 users, a dedicated team of 1Password customer support specialists will help you set up and manage your account, too.
If branding is important to you, though, look at N-able PassPortal (formerly known as SolarWinds Passportal). It offers robust user access control and the ability to create a branded company password manager. It’s a nice touch if you’ve got variety of different offices or subsidiaries all using the same tool.
For companies accessing sensitive data
While using any password manager is a step in the right direction, companies with additional data security needs may want additional reassurance that their password manager of choice is compliant.
LastPass is a GDPR and CCPA compliant option that offers plans to support both small and large businesses alike. The company uses a zero-knowledge model, meaning that LastPass employees can’t access your password data—only you can. They regularly conduct internal security audits, too, so you can be confident in the safety of your data.
And if medical privacy is your concern, check out Proton Pass—it’s part of a larger Proton for Business suite that’s HIPAA compliant. Proton will execute business associate agreements (BAA) and support encrypted passwords along with emails and secure VPN connections.
Still, it's a good idea to talk directly to the support team at your password manager of choice to make sure that they're compliant with the specific regulations and documentation requirements that you have to follow.
The future of password managers
As security options continue to evolve, the leading password managers will as well. We expect all the password managers on this list to remain on the forefront of available enterprise security options—but we’re always seeking the next great option, too.