Password Manager for Small Business—A Review of Top Security Tools
According to the 2024 World Password Day survey, 37% of respondents consider their workplace security habits risky, with insecure password storage (35%) and weak credentials (39%) as common concerns[1]. These issues highlight small businesses' need for password managers with features like encrypted credentials and information storage, multi-factor authentication, and password generation and complexity management.
With many options available, choosing the best password manager for a small business can be challenging. To help you find a solution for your organization, this article will explore some of the top tools. If you need even stronger safeguards for your financial information, we'll explore a method that offers them.
Disclaimer: The information in this guide is valid as of September 2024. For more up-to-date information, please visit each service's official website.
Password Manager for Small Businesses—5 Options To Consider
The five password managers for small businesses we'll review include:
- Keeper
- 1Password
- NordPass
- Bitwarden
- RoboForm
Keeper
Keeper employs a zero-knowledge security architecture[2], ensuring only users can access their encrypted data or master passwords. The password manager supports two-factor authentication (2FA) through SMS codes, time-based one-time password apps like Microsoft Authenticator, and physical keys like YubiKey[3].
Additional features Keeper offers include:
- Shared team folders[4]—This feature enables secure access to records for team members and allows admins to set user and record management permissions.
- Role and team management[5]—Admins can easily configure permissions and roles, managing access control across teams from a centralized interface.
- Security audits and reporting[6]—The Admin Console provides admins with insights into password strength, password reuse, and security scores.
These features are complemented by paid add-ons, such as BreachWatch®, which alerts administrators of compromised passwords[7], and Secure File Storage, which allows businesses to store and share sensitive files with full encryption[8].
Keeper supports Windows, macOS, Android, iOS, and Linux devices[9]. It also offers a browser extension for Chrome, Firefox, Edge, Safari, Brave, and Opera[10].
Keeper's plans for businesses and enterprises include[11]:
1Password
1Password Business offers advanced access control, allowing administrators to set 13 different vault permissions for precise control over who can access, edit, or share data[12].
Admins can generate reports on the team's use of 1Password, issues involving their credentials, and Business Watchtower's findings on weak, reused, or compromised passwords and items lacking two-factor authentication[13].
1Password users also benefit from:
- Activity Log[14]—Provides an audit trail of all actions taken within 1Password, including device authorizations and changing vault access settings
- Automated Provisioning[15]—Integrates with identity providers like Okta and Google Workspace to manage user access efficiently
- Unlock with SSO[16]—Allows employees to log in using Single Sign-On, simplifying access management
1Password is compatible with Windows, Linux, macOS, Android, and iOS devices and offers browser extensions for Firefox, Chrome, Edge, Safari, and Brave[17]. Those interested in this password manager can choose from the following plans[18]:
NordPass
NordPass operates on a zero-knowledge security model, ensuring users can access their encrypted data[19]. It offers a Business Admin Panel with widgets for information on members, password health, data compromised in breaches, and billing[20].
The NordPass Authenticator generates time-based one-time passwords (TOTPs) directly within the vault, providing two-factor authentication (2FA) without the need for external apps[21].
Additional features NordPass offers in its business plans include:
- Secure item sharing[22]—Teams can securely share sensitive credentials within departments
- Items Transfer[23]—Prevents loss of data by allowing admins to transfer items from deleted members to active users
- Activity Log[24]—Offers a detailed audit trail of user actions, such as logins and changes, improving oversight of security practices
NordPass is compatible with the following operating systems and browsers[25]:
- Operating systems—Windows, macOS, Linux distributions supporting Snap, Android, iOS, and Chromebooks
- Browsers—Google Chrome, Mozilla Firefox, Opera, Edge, and Safari
The table below breaks down the prices of NordPass business plans[26]:
Bitwarden
Bitwarden for Business is a zero-knowledge open-source password manager that allows organizations to independently verify the platform's security for increased transparency[27]. Administrators can track account activities with event logs[28] and create user groups for easier onboarding and sharing access to vault items[29].
Additional features Bitwarden offers its users include:
- Two-step login[30]—It allows admins to enforce two-step login via phone calls, SMS, security keys, and Duo, enhancing protection against unauthorized access.
- API Access[31]—Users can connect Bitwarden with their system using APIs and benefit from its member management, event log, and vault management features.
- Vault Health Reports[32]—The reports offer insights into password strength and identify weak or reused credentials.
Bitwarden is supported on Windows, macOS, Linux, iOS, and Android. It offers a browser extension for Chrome, Edge, Firefox, Brave, Safari, and Opera[33].
Bitwarden has two plans that cater to businesses[34]:
RoboForm
RoboForm's automated onboarding feature integrates with identity providers like Azure, OneLogin, and Okta, allowing organizations to provision users while maintaining robust security protocols[35]. Its Dashboard offers admins an overview of the company's security, with recommendations for improvements[36].
Other features RoboForm offers include:
- Security policies[37]—Allows customization of policies on security and access, user settings, and data stored in Roboform
- Two-factor authentication[38]—Allows admins to enforce 2FA using a One-Time Password (OTP) sent via email or SMS
- Company Groups[39]—Enables admins to create groups to facilitate data access and policies deployment
Businesses can use RoboForm on Windows, Linux, macOS, and Chrome OS machines, as well as iOS and Android devices. The service offers a browser extension for Opera, Chrome, Safari, Firefox, Edge, and Brave[40].
The table below provides details about RoboForm's pricing[41]:
All prices are billed annually.
Can Password Managers Keep Payment Cards Info Safe?
Although password managers offer a convenient and secure way to store and autofill information like passwords and payment card details, their protection has limits. They can't protect your card numbers once you share them with an online merchant. From then on, the security of your financial information depends on the safety measures employed by the specific merchant. If they experience a data breach, your payment information could be exposed and misused.
To safeguard your sensitive financial information, consider using virtual cards for online purchases. When you shop online, a virtual card number acts as a stand-in for your actual payment card details, shielding your real financial information from potential cyber threats. For robust security and enhanced control over spending, opt for a specialized provider like Privacy.
Safeguard Your Sensitive Financial Information With Privacy
If you have a debit card or a bank account, you can connect it to your Privacy account and create virtual cards for online transactions. A Privacy Virtual Card has a unique 16-digit card number, expiration date, and security code, offering a convenient way to protect your real financial details.
With Privacy, you enjoy the same level of security offered by banks. Privacy employs robust encryption standards to protect sensitive data and undergoes regular independent security audits to ensure its safeguards are up to the highest standards.
Additional security measures Privacy employs include:
- Two-Factor Authentication (2FA)—You can use 2FA to reduce the risk of unauthorized access to your Privacy account.
- Transaction alerts—You will receive instant notifications whenever your Privacy Virtual Card is used or declined, allowing you to monitor your transactions in real time.
- Fraud investigation—If you dispute a transaction, Privacy will investigate it and file a chargeback against the merchant the same way a bank would.
Privacy Card Types and Features
Privacy allows you to generate three types of virtual cards:
- Single-Use Cards—Designed for one-time transactions, these cards close shortly after the first use. If hackers manage to steal the card details, they won't be able to use them. A Single-Use Card is ideal for making purchases on unfamiliar websites or those you don't plan on visiting again.
- Merchant-Locked Cards—Once you make a payment with this card, it becomes "locked" to that specific vendor. Even if a hacker gains access to the card details, they won't be able to use the card with any other merchant. A Merchant-Locked Card is perfect for recurring payments and regular purchases from the same vendor.
- Category-Locked Cards—These cards "lock" to a specific merchant category, such as travel, dining, or entertainment. If a merchant outside the chosen category tries to charge your Category Card, Privacy will block the transaction. These cards are excellent for budgeting.
Privacy Cards come with the following features:
- Card pausing/closing—You can pause or close your virtual card to stop future transactions. This feature is helpful when canceling services like NordVPN, Tinder Gold, and Apple Music, allowing you to focus on the cancellation process without worrying about accidental charges.
- Spending limits—You can set specific spending limits for each card. Transactions that exceed this limit will be declined, protecting you from unexpected fees, accidental overcharges, or sneaky price increases.
Privacy Convenience Features
Privacy offers several additional features for seamless virtual card use and management:
How To Join Privacy
To start using Privacy, follow these four steps:
- Register on the Privacy website
- Complete the KYC process to verify your identity
- Link your debit card or bank account to fund your Privacy account
- Request your first Privacy Card
Privacy offers four monthly plans—Refer to the table below to determine which one suits you best:
References
[1]Bitwarden, https://bitwarden.com/resources/world-password-day/, sourced September 16, 2024
[2]Keeper. https://www.keepersecurity.com/security.html, sourced September 16, 2024
[3]Keeper. https://docs.keeper.io/en/v/enterprise-guide/two-factor-authentication, sourced September 16, 2024
[4]Keeper. https://docs.keeper.io/en/v/enterprise-guide/sharing/folders, sourced September 16, 2024
[5]Keeper. https://docs.keeper.io/en/v/enterprise-guide/roles#role-enforcement-policies, sourced September 16, 2024
[6]Keeper. https://docs.keeper.io/en/v/enterprise-guide/security-audit, sourced September 16, 2024
[7]Keeper. https://www.keepersecurity.com/breachwatch.html, sourced September 16, 2024
[8]Keeper. https://www.keepersecurity.com/secure-file-storage.html, sourced September 16, 2024
[9]Keeper. https://docs.keeper.io/en/v/user-guides/system-requirements, sourced September 16, 2024
[10]Keeper. https://docs.keeper.io/en/v/user-guides/browser-extensions, sourced September 16, 2024
[11]Keeper. https://www.keepersecurity.com/pricing/business-and-enterprise.html, sourced September 16, 2024
[12]1Password. https://support.1password.com/create-share-vaults-teams/#manage-access, sourced September 16, 2024
[13]1Password. https://support.1password.com/reports/, sourced September 16, 2024
[14]1Password. https://support.1password.com/activity-log/, sourced September 16, 2024
[15]1Password. https://support.1password.com/scim/, sourced September 16, 2024
[16]1Password. https://support.1password.com/sso/, sourced September 16, 2024
[17]1Password. https://support.1password.com/system-requirements/, sourced September 16, 2024
[18]1Password. https://1password.com/pricing, sourced September 16, 2024
[19]NordPass. https://nordpass.com/features/zero-knowledge-architecture/, sourced September 16, 2024
[20]NordPass. https://support.nordpass.com/hc/en-us/articles/6871968554513-Business-Admin-Panel-Dashboard, sourced September 16, 2024
[21]NordPass. https://nordpass.com/blog/nordpass-authenticator-business/, sourced September 16, 2024
[22]NordPass. https://support.nordpass.com/hc/en-us/articles/360005376277-What-is-sharing-and-how-to-share-items, sourced September 16, 2024
[23]NordPass. https://support.nordpass.com/hc/en-us/articles/9941862895377-Items-Transfer-of-Deleted-Members, sourced September 16, 2024
[24]NordPass. https://support.nordpass.com/hc/en-us/articles/4418022658705-How-to-use-the-Activity-Log, sourced September 16, 2024
[25]NordPass. https://support.nordpass.com/hc/en-us/articles/360013369457-Operating-Systems-that-support-NordPass, sourced September 16, 2024
[26]NordPass. https://nordpass.com/plans/business/, sourced September 16, 2024
[27]Bitwarden. https://bitwarden.com/blog/bitwarden-brings-open-source-security-to-secrets-management/, sourced September 16, 2024
[28]Bitwarden. https://bitwarden.com/help/event-logs/, sourced September 16, 2024
[29]Bitwarden. https://bitwarden.com/help/about-groups/, sourced September 16, 2024
[30]Bitwarden. https://bitwarden.com/help/setup-two-step-login/, sourced September 16, 2024
[31]Bitwarden. https://bitwarden.com/help/bitwarden-apis/, sourced September 16, 2024
[32]Bitwarden. https://bitwarden.com/help/reports/, sourced September 16, 2024
[33]Bitwarden. https://bitwarden.com/download/, sourced September 16, 2024
[34]Bitwarden. https://bitwarden.com/pricing/business/, sourced September 16, 2024
[35]RoboForm. https://help.roboform.com/hc/en-us/articles/19716034698125-SCIM-provisioning-FAQs, sourced September 16, 2024
[36]RoboForm. https://help.roboform.com/hc/en-us/articles/28742741006221-Dashboard, sourced September 16, 2024
[37]RoboForm. https://help.roboform.com/hc/en-us/articles/115002512592-Policies, sourced September 16, 2024
[38]RoboForm. https://help.roboform.com/hc/en-us/articles/231107168-Business-User-Account-Security, sourced September 16, 2024
[39]RoboForm. https://help.roboform.com/hc/en-us/articles/115002657551-RoboForm-Company-Groups, sourced September 16, 2024
[40]RoboForm. https://www.roboform.com/premium, Sourced September 16, 2024
[41]RoboForm. https://www.roboform.com/pricing-business, Sourced September 16, 2024
