Why You Should Use a Password Manager
Let’s be honest. Managing multiple accounts for your business without a password manager can quickly become overwhelming. You might need to update access on platforms like Google Ads or Meta, only to realize that no one is sure who has the master login or the password. It’s a frustrating and time-consuming challenge we at Digital Velocity Agency understand firsthand.
We’ve encountered situations where clients expect changes to be seamless, but we occasionally need additional approvals or admin-level access due to varying access permissions. These situations can lead to delays and unnecessary hassle without clear credential management. That’s why we believe a password manager isn’t just a convenience—it’s an essential tool for any organization.
Here’s why adopting a password manager is one of the smartest decisions your company can make (and why your future self will thank you):
Benefits of Using a Password Manager
Stronger Passwords, Stronger Security
People love convenience, which is why “Password123” is probably still being used. A password manager generates complex, unique passwords for every account — no more weak or reused passwords. Just secure, randomly generated ones that hackers hate.
One-Stop Credential Shop
Trying to keep track of passwords manually is like juggling flaming torches—you will drop one eventually. A password manager provides a centralized vault where employees can securely store and access credentials—no more wasted time hunting for logins.
Compliance? Covered
Many industries require strict password management policies, whether GDPR, HIPAA, or PCI-DSS. A password manager helps you enforce those policies, track access, and integrate multi-factor authentication (MFA) for added protection.
Save Time, Stay Productive
Forgotten passwords are productivity killers. With a password manager, employees can quickly login without resetting their credentials every other day. That means more time for real work.
Share Without Fear
Need to share a login with a teammate? Instead of sharing using email or Slack (yikes), a password manager lets you securely share credentials. No sensitive info is ever exposed
Fewer Helpdesk Tickets
IT teams everywhere will rejoice! By reducing the number of forgotten password issues, password managers lighten the load on your support staff. Fewer tickets mean more time for strategic IT initiatives.
The Pitfalls of NOT Using a Password Manager
Breach City
Employees are more likely to reuse passwords across platforms without a password manager. If one gets compromised, attackers can access multiple accounts—a nightmare scenario.
Insecure Sharing
Employees who share passwords through email or chat invite hackers to the party. Insecure sharing methods are a significant security risk that a password manager eliminates.
No Consistent Policy Enforcement
Without a centralized solution, enforcing password policies becomes a guessing game. Weak, outdated passwords linger in use, creating vulnerabilities.
Wasted Time
Password resets aren’t just annoying; they’re costly. The time employees spend locked out of accounts or resetting passwords adds up and eats into productivity.
Scaling Security Is a Headache
As your company grows, so does the number of accounts and passwords. Without a password manager, scaling secure access becomes chaotic.
Slower Incident Response
If a breach happens, immediately identifying and addressing compromised credentials is crucial. A password manager provides visibility and speeds up the response process.
Questions to ask when Selecting a Password Manager for Your Team
- Does the password manager support multiple users and roles?
- Does the Password Manager have a vault to allow us to store securely and share with team members?
- Is there mutli-factor authentication (MFA)?
- Is end-to-end encryption part of the password manager platform?
- What audit logs and reports are available for admin review?
- How is data secured? And, how are data breaches or security incidents handled?
- Is the platform/company compliant with current laws?
- Does it integrate with tools we already use?
- Are there APIs for future automation and/or integrations with DevOps tools?
- Can in import/export data easily from other platforms?
- What is the cost per user/team?
- Are there different pricing tiers? And, what services are included in each tier?
- What happens to my data if I cancel my subscription?
- Can I export all my data securely if I wish to switch to a different password manager at a later date?
The choice of your password manager is important. Ensure employees understand how to use the tool effectively and why secure password management matters.
Our Top Password Manager Picks
Final Thoughts
In a world where cyber threats constantly evolve, password management is a cornerstone of digital security. It’s not just about keeping passwords safe but protecting your entire business. A password manager enhances security, boosts productivity, and simplifies life for everyone involved.
At Digital Velocity, we’re here to help you navigate these challenges. Whether you need advice on choosing the right password manager or with digital strategy, we’ve got your back.
