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7 Benefits of Using Password Management Software

Many people use passwords that are incredibly easy to break. According to recent statistics, the most common password in the USA is “123456” with “password” also making an appearance. 

If you’re using these passwords in either a personal or business capacity, it causes a massive security risk. The solution is a password management software. 

To some users, the idea of using a password manager is a little foreign. How do they work, and what advantages do they offer over simply creating your own passwords? 

In this guide, we’ll look at some of the impressive benefits that come from using a secure password manager, and why you need to use one. Are you ready to learn more? Then read on!

1. Password Management Software Generates Strong Passwords

In contrast to the most easily hacked passwords that we’ve detailed above, a secure password manager can generate very strong passwords in an instant. You can specify the parameters that you want the password to meet, such as length and special characters, and the manager will make an exceptionally strong password for you.

Remembering these passwords would be impossible, as they resemble a string of letters, numbers, and special characters. This is where an online password manager comes into work: you don’t need to remember any of them. All you need is one master password.

2. Individual Vaults for Employees

All the passwords that your team password manager makes are stored in a secure and encrypted vault. However, no one needs to have access to other people’s passwords, as this opens up a world of other security risks. 

The answer is that each employee has separate vaults, as you’ll find on our team password manager software. This also means that the employee can log in to their vault from anywhere to access their passwords.

3. A Variety of Log In Methods

What happens if you forget your master password? With our password vault, that’s not an issue. Our PasswordLess authentication features built-in two-factor authentication (2FA), which makes incredible security easy.

Employees can access their vaults via password, a PIN, biometrics, and even a selfie. The latter option works by sending the picture to a device that has already been enrolled with LogMeOnce, which can then approve or deny the login request.

4. Easy to Maintain Best Practices

Best password practices can be tricky to maintain without a password manager. However, on our team and enterprise password management software, the admin can set certain parameters for everyone’s passwords. 

Not only does this ensure that everyone is using strong passwords, but it’s also easy for the admin to delete user profiles as and when necessary. Insider attacks are a big problem for IT security. A disaffected or angry former employee that still has access to your network is a ticking timebomb.

When someone leaves the company, your admin can unenroll their devices and delete their profile, which stops them from accessing your network. There’s nothing else that they need to do, and the former employee will be removed from the network forever.

5. Faster Access for Enrolled Employees

Many cumulative hours are wasted when employees ponder which one of their passwords they used for this specific app or service. With a password manager, this is removed. Instead of having to remember a password, employees can take a selfie and login in seconds.

This means that there are fewer delays in the login process, which means that your employees can get started with their work much faster. Faster log-in means increased productivity for your business in the long run.

6. Easy to Manage Shared Accounts

Shared accounts are a security minefield. Let’s say that you need to manage a brand’s social media output: should everyone on your social media team be given the client’s password? The answer is no, as this represents a substantial security risk and infringes upon your client’s privacy.

With a password manager, only one person needs to have access to the shared account’s password. Once this is logged, the admin can grant other users access to the social media account without sharing the password. 

With this technology, the other users can do their jobs without needing the client’s password, which means that your clients can rest easy, knowing that their passwords are not being shared unnecessarily.

7. Easy to Encrypt Data

If you’re using the best password manager or one of the best, then you should know that password managers usually have the capacity to store other types of data too.

Passwords are the obvious example, but what about if you need to store payment details? Encryption is necessary, so why not store them in your password vault? Biometrics are another great example of data that can be stored in a password manager’s encrypted vault.

In this day and age, encryption is a must. It ensures that you keep your data secure and private, but you shouldn’t have to pay extra for encrpytion software. With a fantastic password manager for business, you’ll no longer have to.

Password Management Software Is a Must for Business and Personal Users

Password management software is no longer optional: in today’s world, you need a way to come up with highly secure passwords, yet you also need to be able to access them in a flash. 

For the best security, the only solution is a password manager. Whether you’re a personal or a business user, our product is for you.

If you’d like to learn more about LogMeOnce’s features, take a look around our site. If you have any questions, don’t hesitate to get in touch with us.



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