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Best Password Managers for Small and Medium-Sized Businesses Blog Feature
Courtney Casey

By: Courtney Casey on January 14th, 2021

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Best Password Managers for Small and Medium-Sized Businesses

Cyber Security

When a high profile password hack makes the news, it's disconcerting to say the least. And more often than not when the passwords are revealed, they couldn't be more obvious. Things like: password123, iloveyou, qwerty, or 123456. (If that just hit a little too close to home, you should go change your passwords right now).

But we get how it happens. You have SO many passwords for so many different services these days that it's REALLY hard to remember which combination goes with which service. So you pick something you'll remember....and then you use those credentials (or a slight variation) all over the place.

The problem: if one service is hacked, all of your accounts are at risk of compromise too since they all use the same credentials to log in. 

If you're guilty of this, I can almost guarantee your employees do the same. This can put your business systems at risk.

How do you help employees create and remember unique, complex passwords? Password managers. 

This article will help you understand what a password manager is, the top four password manager options, the differences between them, and how much they cost.

What is a Password Manager?

A password manager is a software tool that can can generate, centrally store, organize, and keep track of passwords for you and your employees.

This secure, centralized location eliminates the need to rely on your memory, sticky notes, or spreadsheets to remember hundreds of passwords.

Popular Password Management Options for Businesses

Dashlane

Dashlane is a solid password manager application that touts itself as "the password manager employees will actually use."

With unlimited password storage, Dashlane supports standard operating systems such as Android, iOS, and Windows. And since many people work from home, on-the-go, or in the office, Dashlane can be accessed from nearly any device.

High standards for privacy should be a given for all password managers, and Dashlane is no exception. They don't store any information users provide or they sell it to third parties.

Dashlane offers two separate plans for businesses, each with a 30-day trial. Their Team plan is $5 a month/user, and their Business plan comes in at $8 a month per user. Both are billed annually.

LastPass

LastPass is the most well known of the password manager options. They're a LogMeIn product and they have a reputation for being a tried-and-true password management tool. 

LastPass offers both a browser extension for all the most popular brands, and a password manager mobile app. making it easy to access your passwords no matter which device you're using.

They take security seriously, so data is encrypted and decrypted at the device level. Neither a user's master password or keys are accessible by LastPass or stored on their servers. 

LastPass also offers multiple tiers for businesses, starting with their basic Teams plan, their mid-range Enterprise and MFA (multi-factor authentication) plans, and lastly their Identity plan, which is a combination of both their Enterprise and MFA plans.

Here's the pricing breakdown as of January 2021:

  • Teams plan: $4 month/user (Recommended for companies with less than 50 employees)
  • Enterprise plan: $6 month/user
  • MFA plan: $3 month/user
  • Identity plan: $8 month/user

Full features listing can be found here. Each tier offers a free introductory period and if a business decides to go ahead and purchase a plan, they can expect to be billed annually. 

Keeper

Keeper uses the slogan "Cybersecurity Starts Here ®" and offers two plans for businesses who want to keep password management within their organization -- Business and Enterprise.

The Business tier plan has many of the features businesses would want, including secure access from multiple devices, password policy enforcement, and basic two-factor authentication.

The Enterprise tier includes all of the features from Business, plus Single Sign-On, Active Directory sync, advanced two-factor authentication, and more.

The Business tier is $3.75 a month/user, while the Enterprise tier is $5.00 a month/user. Both are billed annually.  Companies with more than 100 users are advised to contact Keeper's sales department for additional pricing information.

1Password

1Password is an easy-to-use password manager with three plans for businesses.

As of January 2021, their package pricing is:

  • Basic Teams plan is $3.99 a month/user
  • Mid-level Business tier is $7.99 per month/user
  • Enterprise plan for larger businesses needing more advanced features should contact them for a custom quote

Both the Teams and Business plans support two-factor authentication, admin controls, support for standard operating systems including Linux, unlimited shared vaults, and item storage. Additional features found in their Business tier include advanced reporting and logs for auditing purposes, custom roles to design and designate authority, and more. Their Enterprise level includes a dedicated account manager and tailor-made setup training.

One of their differentiators is that they give free family accounts for all team members. Their theory is that if you enable good password security habits at home, they'll be more likely to keep security in mind at work too. 

How to Choose the Right Password Management Solution for Your Business

We understand that budgets are a real thing, and just because you want to provide a password management tool for your employees doesn't necessarily mean that the budget exists for it.

If that's the case, employees can use the password manager built into their cell phone. Most Androids and iPhones have built-in password managers. It's not as good as a central hub for your business, but at least you won't have employee credentials stuck to their monitors with sticky notes, or saved to their web browser.

If you'd like to know more about streamlining password safety and security by using a company-wide password manager, or you just need any help or guidance figuring out which password management solution would be best for your needs, we're here to help!

Reach out to our team any time at 800-481-4369 or request a Free IT Assessment

 

About Courtney Casey

In an industry dominated by men, Courtney Casey, Director of Marketing for Accent Computer Solutions, Inc., is making her mark on the world of information technology. Courtney has been immersed in the IT field most of her life and has been molded into the tech savvy expert she is today. She began working for Accent while earning her Bachelor's degree from California State University, Long Beach. Known in the Inland Empire as the "Tech Girl," Courtney is a regular columnist for the region's newspaper of record, The Press-Enterprise. Her columns address topical news trends, new technology products, and offer advice on how to embrace technology or avoid common IT pitfalls.