Benefits of a Password Manager

Benefits of a Password Manager
Published in : 29 Jan 2022

Benefits of a Password Manager

With an ever-increasing online presence, data generation has sky-rocketed. Gone are days when easy-to-remember passwords could save your data.

Here are some features you should seek out when researching a password manager to use.

Now data breaches can cost you shedloads of money. Hence, the need to secure personal and financial data requires more complicated passwords; this is where password managers became inevitable.

Password managers create and store login credentials for individuals and businesses, allowing users to log in to their accounts automatically. These passwords are unique and unbreakable and stored in the encrypted vault.

You can find a highly secure open-source password manager that offers a wide range of benefits to closed source password managers with little to no benefits.

Potential Benefits to Look Out For

Here are some of the key benefits I like in a password manager that you might want to keep in mind when looking for your next one to use:

#1 Multi-Device Accessibility

It is more convenient to access the password manager on different devices. It allows the required flexibility while working on multiple devices.

Password managers should offer access through a mobile app, desktop app, browser extension, and online web vault. So, you can log in to your accounts whether you are at the office or on vacation without any worry.  

#2 Generate and Store Unique Passwords

For effectively securing data, every password should be unique and complex. However, it is near impossible to remember passwords like this “KLKbnbh@#$5889876!.”

With your new password manager, you should be able to generate and store unique and strong passwords in your vault, securing your accounts against any potential breach.

#3 General Features and Functionality

Your new password manager should offer a broad range of general features and functionalities. These could include:

  • Two-Factor Authentication (2FA)
  • Organization Creation and Management
  • Quick and Easy Multiple Users Experience
  • Password Sharing
  • Password Auditing and Breach Monitoring
  • Ease of Use and Setup

2FA should be a must as it takes only a single login password to gain access to all your vault. 2FA is just another added line of defense if that password becomes known to another. 

#4 Secure Data Transmission

You can transmit secure data/files to anyone with the “Send” feature. For instance, you can share sensitive property papers with your lawyer. An encrypted file can be shared with anyone through a secure link within a few seconds.

#5 It’s Inexpensive

Some highly secure password managers can cost loads of money. They may invest more into customer service, fancy-looking apps, and additional updates.

However, others understand the need for a secure password management system and strive to give its service to everyone. Some users can even get the best solution for their password management with a free basic account.    

#5 Store Personal Information

Most password managers will allow you to store your credit card numbers, notes, identity information, and more in addition to logins. Some even go as far as letting you store files such as tax returns or legal documents in the cloud for access conveniently whenever you want.