A top-quality password management solution is quickly becoming a must have for businesses. The risks of cybercrime and other forms of data loss are rapidly increasing, with small- and medium-sized companies increasingly the target of such attacks. Also, passwords are hard to track, and trying to devise an in-house solution takes time away from more critical tasks.
Fortunately, there are many highly secure, innovative, and affordable solutions available. This article explores the best business password management software and helps you make the right decision for your organization.
- Also check out our list of the best password managers for consumers
Best business password management software - at a glance
LastPass is a market leader when it comes to password management, and justifiably so. Thanks to several business-specific features, a top-quality security framework, and an intuitive and easy-to-use interface, we believe that LastPass is the best business password management software available in 2020.
In addition to industry-standard features such as password generation, emergency access, one-touch login, and automatic syncing, LastPass includes enterprise-specific features such as password sharing and advanced administrator controls. The inclusion of single sign-on (SSO) and multi-factor authentication technologies make LastPass ideal for medium and large organizations.
The platform’s security policies are also top-notch, with end-to-end encryption and TLS protocols ensuring your data remains secure.
If you are considering LastPass for your business, there are several products catering to different organizational needs. For a comprehensive, all-in-one solution, choose the Identity plan ($8 per user per month). This plan combines password management and multi-factor authentication. For $4 per month per user, you can purchase the Teams plan, which provides a simple but powerful password management solution for employees.
NordPass is perhaps unlucky to be in second place on our list of the best business password management software because it is undoubtedly a close contender with LastPass. It is highly secure, easy to use, widely supported, and more affordable than some other providers.
Some of the features we like most about NordPass include biometric authorization and optical character recognition (OCR) scanning. These features save you time and make using NordPass a seamless experience. Password sharing is another business-oriented feature that makes the platform ideal for organizations.
We also like the platform’s zero-knowledge security architecture, which uses the end-to-end XChaCha20 encryption algorithm to ensure data is never compromised.
With plans starting from as low as $2.50 per user per month, NordPass is a compelling option for a password management solution. However, we would like to see features such as WiFi sharing and greater administrator analytics and controls.
Sticky Password is another worthy consideration for the best business password management software. We like its unique pricing model and innovative roles-based sharing.
As a baseline, the platform includes essential features such as one-touch login, password generation, password autofill, automatic syncing, and encrypted storage of credit cards and digital notes.
Password sharing is also included. However, the team behind Sticky Password has developed this feature even further to include role-based permissions. This innovative feature enables administrators to share with an employee only the passwords they require to fulfill their role. If an employee needs access to a specific credential, they can request access from the administrator. With this system in place, businesses are less exposed to security risks, as each password is only given to essential personnel.
Sticky Password can be bought for $29.99 per user per year, making it one of the cheaper password management services. A lifetime subscription can also be purchased for $159.99.
Although Roboform offers a robust and powerful password management solution for businesses, it loses some marks for its basic user interface and high cost. There are also few innovative features to speak of.
Nonetheless, RoboForm is reliable, and the features it does have operate seamlessly to protect your business credentials. Password generation, sharing, and syncing are included, as is offline access and SSO technology.
A business-specific feature we are pleased to see is emergency access. So if you or an employee ever lose access to your account, you can restore access and recover essential data. Advanced administrator controls also make RoboForm ideal for organizations.
The cost of RoboForm depends on the number of licenses you are purchasing, as well as the length of the subscription. Discounts of 15% and 25% are offered for three-year and five-year memberships, respectively. For a one-year subscription, prices start at $39.95 per user per year (1–10 users) and go as low as $29.95 per user per year (101–1000 users).
Password Boss is a reliable and secure performer. However, we don’t think it quite competes with the best business password management software.
Two business-oriented plans are available: Standard ($3 user/month) and Advanced ($4 user/month).
Although the platform comes with all the industry-standard features, there is only one innovative feature to speak of, a Dark Web scan. Although the premise behind this feature is intriguing, we were unable to find information explaining the back-end technology. We worry it may be more of a marketing gimmick than a genuine security feature.
However, Password Boss is still a reliable password management service worth considering. The Advanced plan includes business-specific features such as user management, analytics, and audit logs.
1Password is a password management solution that provides protection for individuals, families and businesses. While the company does offer a consumer version, organizations that sign up for 1Password Business also get access to free family accounts for all of their team members.
There are three plans available depending on the size of your organization. 1Password Business' Teams plan for $3.99 per user monthly is best suited to startups and small businesses while its Business plan for $7.99 per user monthly will likely appeal to larger organizations. It's worth noting that you will have to sign up for the Business plan or higher to claim the free family accounts for your team. There is also an Enterprise plan available but you will need to contact the company for a custom quote.
For the price, 1Password Business includes apps for most popular platforms, unlimited shared vaults and item storage, administrator controls, two-factor authentication for additional protection and more.
As well as providing all of the above, 1Password Business also protects you from breaches and other threats, such as keyloggers and phishing attempts, and will only work in verified browsers.