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Why You Need a Password Manager

Why You Need a Password Manager

March 30, 20214 min read

Password Management

If you're tech-savvy enough to have a personal password manager on your own computer, you know why a company would want a password manager for their corporate teams. Passwords are often a point of confusion among business people; namely, why do we need so many? With work teams, this becomes compounded.

With the engineering team, for example, each individual could share a Google doc or Google sheet, only to accidentally or inadvertently share it with a non-team member or even someone outside the company. Worse yet, someone from the Accounting Department could use an easily guessable password, leaving your company vulnerable to external and internal threats.

TeamPassword allows businesses to create passwords and restrict them to only the people needing access to distinct applications and systems. This makes sharing information easier, controllable, and—with two-factor authentication and AES 256 bit encryption—as secure as is technologically possible. 

If you would like to try TeamPassword for yourself click to start a free trial.  

What is Password Guessing

You would hope that every individual in your company would use a password manager, and every password they use would be 32 characters in length. But the world of passwords is not perfect, as we often find out the hard way. For example: recently, a hack of software company SolarWinds has been prominent in the news. Hackers used some very sophisticated techniques, and one not so sophisticated: password guessing.

What is password guessing? Just as the name implies. Employees who use easy-to-remember passwords also often use the same password for multiple applications. If a hacker guesses the password they can gain access to your account. The risk of peoples personal devices being compromised is higher, now that 70 percent of employees use their own devices for business. Although it is convenient and cost-effective, the "Bring-Your-Own-Device" model does not promote access to or control over employees’ password choices. This could be problematic and dangerous for the enterprise. 

How Does a Password Manager for Teams Work?

For customers of TeamPassword, team members receive an invitation through an email link, and their passwords are stored in a secure cloud. You can give them access to only the applications and systems for which they are approved, and you can turn off access at any time. The administrator will also receive alerts whenever there is activity in the password manager environment so that they can monitor logins and access. All activity is logged, so the administrator has transparency into what’s happening at all times.

It's easy to generate a unique password for every login, and there is no need to remember multiple passwords. The user only needs to remember the master password.

Important TeamPassword Features

When you use TeamPassword, you benefit from some of the most advanced features in the industry, for instance:

  • Accessible anywhere from any device, including mobile devices. Team members have 24/7 access.
  • Chrome, Safari, and Firefox extensions for more speed. Browser extensions let the user access TeamPassword quickly and securely with fewer keystrokes.
  • Scalable. Use TeamPassword to keep all your passwords in one place. It doesn't matter how many passwords your company has or how many team members you invite. TeamPassword can handle them all.
  • The Secure Password Generator allows for automatic creation of randomized and secure passwords. TeamPassword always chooses passwords formatted to be the most difficult to hack.
  • Optional two-step verification. Some companies require only a single login, but for those who want an additional layer of protection, two-step verification is available.
  • Activity logging and email alerts because transparency is vital to the administrator. With logging and alerts, they can avoid unpleasant surprises.
  • Military-grade AES 256 bit encryption. Nothing is sent over the internet without first being encrypted, and the TeamPassword encryption standard is the highest available.
  • Small & large business useibility. At TeamPassword, our solution can be both used for small and large businesses. We have the expertise to serve both sizes with the dedication to make your company more secure. You need to make sure all of your passwords are secure, and Team Password is the best way to do that.

TeamPassword offers a 14-day free trial. Try all the features and benefits Team Password can offer by clicking here.

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