Understanding Enterprise Password Management
With the rise of cyberattacks, enterprises are increasingly focused on strengthening their security measures. Effective password management is at the forefront of these efforts, with a 2022 survey by 451 Research revealing that 57% of organizations have already adopted password management solutions[1]. The study also highlights that nearly 93% of organizations are maintaining or increasing their budget for these technologies, underscoring their critical role in safeguarding sensitive information.
Despite the increase in the adoption of password management tools, the 2024 World Password Day Survey found that 37% of respondents still perceive their workplace security habits as risky. Some common issues include insecure password storage (35%) and the use of weak credentials (39%)[2].
To address these challenges, it's important to understand what enterprise password management (EPM) is and why it is essential for protecting digital assets against data breaches. This guide will also explain how to protect another type of sensitive information—payment card numbers—against online threats.
Disclaimer: The details in this guide are accurate as of the time of writing. For up-to-date information, please visit the service providers' websites.
What Is Enterprise Password Management
Enterprise password management refers to the structured approach of overseeing, securing, and managing digital credentials within an organization, typically using enterprise password management tools. It is critical for addressing the complex needs of businesses by facilitating:
- Centralized control—Provides a unified dashboard for administrators to manage all user passwords, enhancing oversight and security
- Password sharing—Enables the secure distribution of credentials among team members without revealing actual passwords
- Audit logs—Monitors and records all password-related activities, aiding in compliance and security audits by tracking password strength, reuse, and usage with two-factor authentication
- Integration with IT infrastructure—Connects seamlessly with existing systems like Active Directory and single sign-on (SSO), streamlining password management
- Automated password updates—Regularly updates passwords to meet security standards, reducing the risk of breaches
Importance of Enterprise Password Management
A robust enterprise password management system is crucial in safeguarding organizational security and efficiency. The significance of EPM systems lies in their ability to:
- Enhance security protocols—EPM systems enforce complex password policies, including requirements for unique characters and regular updates. These policies help strengthen defenses against unauthorized access and sophisticated cyber threats like phishing and brute-force attacks.
- Improve resource efficiency—By automating password management tasks, EPM systems reduce the manual workload on employees and IT teams, freeing them to focus on strategic initiatives such as cybersecurity improvements and technological innovation.
- Promote compliance with regulations—EPM systems facilitate adherence to industry-specific regulations and standards like GDPR or HIPAA by maintaining robust password policies and providing audit trails, which help avoid legal issues and build stakeholder trust.
- Simplify user access—Features like single sign-on (SSO) and password autofill reduce the need for users to remember multiple complex passwords, simplifying access to essential tools and applications.
- Enable swift incident response—In the event of a security breach, EPM systems empower administrators to immediately reset compromised passwords and revoke access, helping contain threats and mitigate potential damage to the organization.
Top 5 Enterprise Password Managers
Choosing the right EPM service is crucial for maintaining secure and efficient password management. The top five enterprise password managers tailored to meet various organizational needs are:
- Keeper
- Dashlane
- NordPass
- 1Password
- LastPass
Keeper
Keeper is a password manager with a zero-knowledge, zero-trust architecture. It protects user information using multiple layers of encryption with elliptical curve cryptography (ECC) and AES 256. To ensure secure access, it supports both multi-factor and biometric authentication[3].
Other notable features of this password manager include:
- Policy engine and enforcements—Keeper allows administrators to create and enforce access, password, and security policies across the organization[4].
- Reporting and alerts—The Advanced Reporting & Alerts Module (ARAM) allows administrators and compliance teams to monitor credential usage, review logs, and receive alerts on specified events[5].
- Advanced organizational structure—Administrators can organize users into location-, department-, or division-based "nodes." Each node can have its provisioning method and identity provider[6].
Dashlane
Dashlane offers an enterprise plan with plenty of proactive protection features. Users can track the health and security of passwords across their organization, receive phishing alerts in real time, and benefit from Dark Web monitoring for leaked credentials[7].
Dashlane further enhances its offering with several features, including:
- Mass deployment—Users can quickly deploy Dashlane's browser extension on multiple devices using Jamf on Mac and GPO or Intune on Windows[8].
- Security policies—Admins can turn on or off policies, including 2FA enforcement, access to secure sharing, or specific cryptography requirements[9].
- Credential activity monitoring—Admins can track credential-related events thanks to integration with SIEM tools such as Splunk[10].
NordPass
NordPass' zero-knowledge architecture enforces strict user data separation and isolation to reduce the possibility of unauthorized access. NordPass uses the fast XChaCha20 algorithm to encrypt stored data, and end-to-end encryption to ensure no one can decrypt the data except the user[11].
NordPass also offers:
- Professional support—NordPass' enterprise clients benefit from face-to-face onboarding, a dedicated account manager, and 24/7 tech support[12].
- User and group provisioning—NordPass supports Azure, Okta, AWS, and Docker for individual and/or group user provisioning[13].
- Multiplatform compatibility—The password manager is supported on operating systems such as Windows, macOS, Linux, and Android, as well as major browsers[14].
1Password
1Password offers a security model based on strong encryption practices, including end-to-end encryption, the use of AES-256, key strengthening with PBKDF2, and an additional 128-bit secret key for data encryption[15].
1Password's users also benefit from:
- Automatic security features—1Password can be set up to automatically remove passwords from the clipboard and lock when users are away[15].
- Business Watchtower reports—Admins can receive information on weak or reused passwords, passwords involved in data breaches, and inactive 2FA across the organization[16].
- Dedicated support—1Password offers support for setup and migration, as well as user training[17].
LastPass
LastPass integrates with many popular identity providers, including Microsoft Active Directory, Azure, Okta, Ping One, and OneLogin. This time-saving feature allows admins to automate account creation, group management, and user termination[18].
Other notable features of LastPass include:
- Business password sharing—Users can safely share credentials without sharing actual passwords, based on the rules set by administrators[19].
- Advanced MFA options—LastPass provides device-based, biometric, and contextual authentication, as well as authentication via hardware keys[20].
- Compliance Center—LastPass maintains easy access to its compliance and certification documentation[21].
Adding Security to the Mix Using Virtual Cards
Protecting passwords against theft is a core function of password management systems. However, passwords aren't the only sensitive details hackers target. Financial information, like payment card numbers, is also high on their list.
Hackers frequently target merchant data centers to access card numbers stored there. If these systems are breached, your financial information can be exposed and misused.
To enhance the security of your card details, consider using virtual cards for online purchases. Virtual cards have random card numbers you can use at checkout, hiding your actual payment card details from potential thieves.
If you're looking for advanced features and robust security, consider a specialized card provider like Privacy.
Privacy Cards Can Protect Your Financial Data
By linking your debit card or bank account to Privacy, you can generate multiple virtual cards, each with a unique 16-digit number, expiration date, and security code. You can use those cards whenever you shop online, knowing that your actual card numbers are stored safely in a single place, instead of being kept in the database of every merchant you shop at.
Being a PCI-DSS-compliant service provider, Privacy uses industry-grade security methods to protect user details:
- Two-factor authentication (2FA)—Requires additional authentication beyond passwords, ensuring only authorized users can access and manage Privacy accounts
- Split-key encryption—Protects sensitive data using split-key encryption, distributing encryption keys among different employees to boost security
- Advanced encryption standard—Secures data with AES-256 encryption, a standard recognized as highly secure against brute-force attacks
- Firewalled servers—Uses firewalled servers to block unauthorized access and defend against cyber threats
An Overview of Privacy Card Types and Features
Privacy offers three card types:
You can set spending limits on Privacy Cards, and Privacy will decline all charges above the limit. This feature protects against sneaky merchants who may include hidden fees at checkout. Privacy also allows you to stop further charges by pausing or closing cards. This feature reduces the risk of accidental charges, such as those that might occur when canceling a subscription.
Additional Convenience Features
To make card management seamless, Privacy offers five essential convenience features:
- 1Password Integration—Privacy integrates seamlessly with 1Password, allowing you to manage and use cards from the password manager's browser extension.
- Privacy App—Whether you're using an Android or iOS device, the mobile app lets you manage your cards, monitor transactions, and set limits on the go.
- Privacy Browser Extension—Compatible with Edge, Chrome, Firefox, Safari, and Safari for iOS, this extension enables quick card creation and autofill capabilities.
- Card Notes—This feature allows you to add notes to each card, helping you keep track of your spending and better organize your virtual cards.
- Shared Cards—You can share cards with family members or trusted friends, ensuring they have access to funds while allowing you to retain control over usage.
How To Start Using Privacy Cards
To get started with Privacy, follow four steps:
- Sign up for a new account
- Provide personal information to verify your identity
- Connect your Privacy account with a bank account or debit card
- Request and generate your first Privacy Card
Privacy has four plans—Refer to the table below for more details on each option:
