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Secure your business with a team password manager

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Whether at home, at work, or on the go, passwords are a critical part of daily life. The average person has dozens if not hundreds of login credentials to keep track of, which is compounded by the passwords needed to secure work applications used on a regular basis. That is way too many passwords for any one person to maintain by memory alone—especially if the passwords are truly strong enough to prevent cyberattacks.

Having too many passwords often leads to unsafe management practices, such as writing them down or reusing the same password over and over again for multiple online accounts. In the Bitwarden 2023 Password Decisions Survey, which probed password security insights from IT business leaders around the world:

  • 45% of IT professionals report that their company relies on human memory to manage passwords.

  • 90% of employees reuse the same password for multiple business accounts. 

  • 79% of IT decision-makers want their employer to require the use of a password manager to help keep business and employee information secure. 

When employees have to rely on unsafe methods to store and share passwords, it also has an impact on their ability to do their best work. Adopting a password manager for your team is a safe and simple way to increase employee productivity across the board. Care to see it in action? Start a team trial here and to learn more, read on. 

Remote work makes team passwords more vulnerable than ever

Keeping passwords secure becomes increasingly difficult when an entire team needs access to the same online applications. And with so many businesses operating remotely, IT business leaders need to be even more diligent about fostering strong security practices.

Business credentials are low-hanging fruit to hackers attempting to gain access to a company’s network. According to a recent Verizon report, “the commonality among the more than 20,000 security incidents and 5,212 confirmed data breaches was the use of stolen credentials, which accounted for nearly 50% of attacks.” 

Too many organizations rely on an Excel spreadsheet with login credentials and passwords, which is typically stored on a company server but rarely password protected or secured in any way. Some share passwords between teams in team-based communication apps such as Slack or Microsoft Teams and others send them through email. All of these methods of sharing passwords are highly insecure and leave organizations vulnerable to malicious actors looking for an entry into the network. 

So what’s the answer? A comprehensive password manager for teams. 

What is a team password manager?

A password manager for teams is an application or software solution that is designed to keep passwords, login credentials, and other sensitive information safe and secure. 

Think of it as an encrypted digital vault, which serves as a single, centralized repository for individual and team passwords. Users can upload sensitive data into the vault and no one can access it unless they have a master password, which is unique for each user. 

To share a password with your team, all you need to do is use your master password to access the vault, add the password to a shared collection, and then notify your team that it’s available. They then will use their own master passwords to access the information, so the password is never shared across networks or unsecure applications like email. 

With a team password manager, every user simply has a single password to remember, which gets them access to all the others. Many team password managers also do more than simply store password information. If you’re accessing a site that the password manager recognizes, it will use auto-fill to enter your login and password information for you. That makes logging into frequently used work applications fast and easy. If the password manager does not recognize a website you believe you have previously visited, it will tip you off to a potential phishing attack by not auto-filling your credentials so you don’t unknowingly give them away to a bad actor.

Benefits of using a password manager

With a password manager for teams, you no longer have to remember dozens of passwords - leaving you time to focus on actual work.

You can also: 

  • Securely share one or many passwords with individuals or groups – make sure your confidential information stays confidential and encrypted. 

  • Store more than just login credentials and passwords – the system can also secure data such as credit card numbers, user social security numbers, and much more. 

  • Generate strong, randomized passwords for all of your accounts – the password manager will create strong passwords for you with a click of the mouse, and because they’re stored in the vault and auto-filled on websites, ultra-randomized passwords are no longer a hassle. 

  • Give IT a view into the system – your IT team can track and monitor the system to see who is sharing which passwords with other users. They can also revoke user access once an employee leaves the company or lock users out if they break password sharing policies. 

  • Allow IT to make corrections as needed – your IT team can also review passwords and ask users to create stronger ones if necessary. They can also lock down certain passwords so they can’t be edited or changed by users. 

  • View automatically generated event logs – IT can see every action by every user within the system and troubleshoot any issues that arise or identify noncompliance with guidelines. 

  • Generate vault health reports – gain visibility into a range of helpful security metrics that include how many users are reusing passwords for multiple accounts or creating weak, easily hackable passwords. 

Choosing the right password manager

When it comes to choosing a team password manager, you have a lot of options. One of the smartest choices you can make is to find a password manager that delivers all the features listed above. Bitwarden does just that and more.

The Bitwarden code is open source. An open source team password manager means that every line of code has been vetted, analyzed, and checked over by lots of people, many of whom are experts in the industry. It also means that it truly offers the security and protection people expect. 

Second, Bitwarden undergoes regular third-party audits. In fact, Bitwarden invites reputable experts to do penetration testing, security assessments and audits, and cryptographic analysis. 

Finally, Bitwarden uses a “zero knowledge” architecture that ensures that no one can see your password or other saved data except you. The data is encrypted on your machine before it’s sent to the vault, so it’s protected from the eyes of everyone, including Bitwarden engineers. 

With flexible deployment options, support for more than 50 languages, and automatic user and group provisioning through added features, Bitwarden takes the hassle out of password security and management and makes it simple to protect your most sensitive information. 

Get started with Bitwarden

Find the right plan for you. Download Bitwarden for free or fill out a quick online form to get started with a free trial today. Or, contact us to get more information on features, pricing, and deployment options.

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