Cyber security is a huge concern for any modern business, and rightly so. Unsecured passwords can lead to data breaches of sensitive information, or leave companies exposed to ransomware attacks, potentially costing them millions. That’s why, for just a few dollars a month, a password manager could be the knight in shining armor you didn’t know you needed.
A password manager can mitigate a lot of the stress and danger around exposed staff login details – and with a 2019 report from IBM putting the average cost of a data breach at $3.92 million, few businesses can afford not to have one. We’ve tested the most popular solutions, and found 1Password to be the best, thanks to its extensive feature set, some tempting price plans and easy to use interface. Dashlane comes in a close second, with global favourite LastPass not far behind.
With central password control, secure password generation, and shared folders, password managers have much to offer. We explain your options, and rate the most popular solutions.
In this guide:
- Best Password Manager for Business – A look at the top enterprise password managers for your business
- 1Password Teams and Business – Our top pick – easy to use and with essential features
- LastPass Teams – The choice of thousands of companies, LastPass Teams is a superb second choice
- Dashlane Business – A great all-round password manager with security monitoring features
- Sticky Password Business – A cheaper option, but not lacking in features
- Keeper Business – A smart choice for those that want to add features to their package
- Business Password Managers FAQS – Your questions, answered
Best Password Manager for Business
If you’ve used a personal password manager, you’ll have some idea of what to expect from a business-focused solution. Yes, they do all the things you’d expect – primarily, remembering your passwords for you – but they also have some very neat tricks up their sleeves which will not only take pressure off your IT team, but also be welcomed by your employees.
These include the ability to monitor access across your systems, and adjust rights for individuals and teams at the click of a button. And of course, your teams won’t have to worry about forgetting their passwords ever again.
So, if you're a business seeking a secure and dependable password manager that can scale to the needs of your team, which should you choose? In our testing, we've found you can't go far wrong with 1Password Teams, which narrowly beats LastPass Teams to be our top choice:
Scroll horizontally to view full table on mobile devices
|1Password Teams||LastPass Teams||Dashlane Business||Sticky Password Teams||Keeper Business|
|Team reporting tools||✓||✓||✓||✓||✓|
|Password Generator Function||✓||✓||✓||✓||✓|
|Live Chat Support||x||x||✓||x||x|
|Cost per user per year||$48||$48||$48||$29.99||$30|
|Discounts Available||See Deals||See Deals||See Deals||See Deals||See Deals|
1Password Teams and Business
Teams is 1Password’s password manager solution for companies with around 50 employees, or for dedicated groups within larger companies. If your needs are larger, you should take a look at 1Password Business – this offers all the same features, but with a greater focus on reporting and support.
1Password Teams Features and Cost
1Password Teams is the cheaper offering of the two, costing $3.99 per user per month, and allows its users to store unlimited passwords, as well as other data. They can also share any information they wish with other employees thanks to the shared folder, as well as keep any of their own information private.
A smart ‘travel mode’ is useful for employees who are regularly out in the field, as it allows sensitive data to be removed from a device while travelling, and then reinstated with a click when they reach their destination – thus reducing the chances of it falling into the wrong hands.
The 1Password Watchtower feature monitors compromised websites and vulnerable passwords, and alerts users when these need to be changed or removed.
1Password Business Features and Cost
1Password Business costs $7.99 per user per month, but offers more features. As well as everything in the Teams package, users get more storage (5GB compared to 1GB), 20 guest accounts, and custom security controls.
There is also more of a focus on reporting with Business, including the ability to generate activity logs and an audit trail. There’s also a more granular approach to rights management, with the ability to create custom roles for employees, as well as custom groups.
As a bonus, employees also get free family accounts.
- 30 day free trial
- Local storage makes saving changed passwords more reliable
- Large number of secure note templates for storing sensitive information
- Very well-designed app
- No automated password changing feature
- Desktop app seems superfluous
- No camera integration on mobile
Plenty of companies use LastPass Teams – over 43,000 of them, in fact. LastPass reckons that its popularity is due to a strong system with a simple interface, and we’d have to agree. While 1Password just clinches the top spot, LastPass Teams is a worthy second choice.
LastPass Teams Features and Cost
Priced at $4 per user, LastPass Teams offers users the standard feature set you would hope to get from a password manager, including the ability to add and remove users instantly, adjust basic security policies, and generate reports.
Individuals get their own vault, as well as shared folders that they can use to store information and pass it on to coworkers.
The Teams tier package doesn’t include some of the more advanced features, such as integration with your backend directory, or more in-depth reporting. For this, you’ll need to sign up to the Enterprise package.
- Makes your passwords available where you want them: in your browser.
- Detects when you’re using the same password on multiple sites.
- Available on all major browsers and on multiple sites.
- Connection issues, though rare, can make password changes maddening.
- Password changing feature is very manual the first time round.
Charged at $4 per user, Dashlane Business offers up all the features of its personal package, with extra functionality for companies.
Its Dark Web monitoring actively scans the web to identify if user details are comprised, ensuring the security of passwords, social security numbers, phone numbers, and other sensitive data. If your information is discovered, Dashlane Business will send back an alert, via email, pop-up, and the Dashlane Dashboard.
Dashlane Business Additional Features
As with other similar services, Dashlane allows your employees to store 1GB of files in its secure notes section, which can be kept private, or made accessible to other teams or individuals.
Dashlane Business also supports two factor authentication, and gives each password a health score – meaning if your team isn’t using strong enough passwords, they’ll be prompted to make them more complicated. Should they struggle to get creative, a password generator can offer a helping hand.
- Dashlane can automatically change multiple passwords at once
- Easy-to-understand security assessment of your password quality
- Auto-saves online receipts
- Virtual Private Network (VPN) included
- The free tier doesn’t backup your database to the cloud
- Very expensive compared to competitors such as 1Password and LastPass
Sticky Password Business
At $29.99 per user per year, Sticky Password Business may be the cheapest option for businesses, but that’s not to suggest it can’t compete with its more expensive rivals.
Sticky Password Business offers two-factor authentication, and users can share passwords and logins with each other securely. It also comes with a password generator, so that users can ensure the passwords they are choosing are secure.
Sticky Password Business Features
Sticky Password Business supports a wide variety of devices, including Windows, Mac, Android and iOS, as well 16 different browsers, including Chrome, Firefox and Safari.
It also works on USB keys and memory cards, meaning you can access encrypted data on devices that haven’t been cleared by your IT department without compromising your data.
- Very well priced
- The automatic login features are fantastic
- Wide browser support
- Illogical saved bookmarks feature
- Desktop app design is outdated and can be sluggish
Keeper Business starts at around $2.50 per user – depending on how many staff you need to use it – which makes it one of the cheaper options out there.
With the package, each user gets their own folder and sub folders for storing data, as well as shared team folders. Its service can be accessed from an unlimited number of devices, so your employees won’t be forced to sign out of the account on their phone to login on their laptop.
Keeper Business Security Features
Keeper Business also includes two-factor authentication accessible through text message, time-based passwords, and smartwatch or physical FIDO keys, adding multiple extra layers of security for your employees.
As part of the Keeper Business model, it’s also possible to extend the features with add-ons, for an additional cost. These add-ons include an advanced reporting and alerts module, as well as specialist training.
- One of the cheaper enterprise password managers
- Works on unlimited devices
- Two-factor authentication
- Add-on features are a nice bonus, but costs can soon mount up
Business Password Managers FAQs
Why use a business password manager?
A password manager is an essential tool in any business arsenal, as it allows oversight over your employees’ access to secure programs and systems. It also vastly reduces the chance of a breach, and promotes good security practice.
By centralizing passwords, businesses have a degree of control over their own systems and who can access them – control that they wouldn’t have if employees were left to manage their own passwords. It also enables companies to restrict access to systems instantly on a personal, team, or company level.
Another benefit is the ability to ensure that users are picking secure passwords – no more ‘Password123’ or other easily guessable words. A password manager can issue secure passwords, and also update them regularly.
What is an enterprise password vault?
An enterprise password vault is essentially a hub for your company’s password management. It removes the need for your IT team to track and monitor passwords, as the vault does this for you – this is a great time saver, especially for larger companies.
Features of a vault include the ability to automatically manage and update passwords, regularly issue new ones to ensure that older credentials are not valid, keep track of credentials, and remove access.
Using a vault, it’s possible to remove access to a system for the entire company, or for an individual, with immediate effect. This means that should a password be compromised, or a member of staff leave the company, their access can be revoked instantly – reducing the chance of any sensitive data breaches.
Can password managers be trusted?
There has yet to be a system created that is entirely infallible, and we’d be lying if we said that password managers hadn’t been compromised in the past. The good news is that these instances are few and far between, and the damage has been minimal. By and large, password managers are safe to use.
In 2015, LastPass suffered a breach, when hackers were able to access its systems. However, they didn’t get away with anything of use: all the passwords were protected with a Master Password, which isn’t stored on the Last Pass servers. This meant a wasted day for the hackers, and verification that yes, password managers are worth using (and paying for).
When it comes to your company, would you rather trust your staff with the keys to your kingdom – thus allowing potentially dubious practices, such as writing passwords on post-it notes, or sharing login details over non-secure channels? Or would you rather trust a dedicated password manager company whose main goal is to impress you with its service so that you keep on paying?
Does Microsoft have a password manager?
No. While there are rumors that Microsoft may offer a password management service to consumers as part of its Office package this year, it doesn’t currently offer any such service to businesses.
What’s the difference between LastPass teams and enterprise?
If you’re a business looking for a suitable password manager for your company, then you might have run into some confusion when looking at LastPass’s offerings, as it has two separate products available: Teams and Enterprise.
Teams is recommended for smaller companies (LastPass suggests 50 employees or fewer), and offers features such as personal vaults, basic reporting, an admin dashboard, and priority tech support.
Enterprise includes all of the features of Teams, but with the additional functionality of two-factor authentication, API access, directory integration, and dedicated customer support.
Enterprise is the pricier of the two – billed at $72 per user annually, compared to Teams’ $48 – although of course, you do get more for your money (should you need it).
Can you use a free password manager for business?
Yes, but we wouldn’t recommend it. While there are no free dedicated business password managers that are worth writing about, your staff could potentially sign up for personal password managers individually with free services.
While this would mitigate some of the issues around lost passwords, and potentially save your company the odd headache here and there, it’s simply not worth it in the long run. The lack of central oversight of your employees details could lead to issues, and should a member of staff leave the company, they could potentially take their login details with them via their password manager.
Business password managers are bespoke services that are tailor made for your exact needs, and cost as little as a couple of dollars a month per user. If you want to take your company’s security seriously, it’s a worthwhile investment that will ensure you peace of mind.
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