Best Password Manager for Business: Discover Vault Password Manager

Managing passwords is difficult, especially if you’re working with a remote team. That’s why you need a password manager like the Vault Password Manager that gives you complete control over password storage, accessibility, and security.

So, let’s check out more about the best password manager for business - the Vault Password Manager and what it offers you. By the end of the article, you’ll know, what is the best business password manager and how to choose a password manager.

Corporate password managers let organizations take complete control of password management. It ensures employees have a secure and efficient way to store, manage, and protect passwords through a centralized password storage solution. The administrator also has complete control over the secure cloud-based digital vault. They can access everything through a master password. The digital locker also lets businesses store other critical information such as SSH keys, identity cards, documents, etc.

The corporate password manager also ensures that employees use strong and unique passwords for all company’s accounts and services. This eliminates the need to monitor passwords manually and removes the system’s vulnerability due to human-based security issues such as weak passwords, not changing passwords every three months, etc.

To understand the role of password managers for companies, we’ll need to look at their benefits and how businesses use them.

• Due to the centralized approach, the corporate password manager lets you gain insights and visibility on how employees follow password practices. It resolves weak passwords and stops employees from performing bad practices that can be the most vulnerable threat to any organization.

• Enforce strict measures so employees follow proper password policies, such as creating passwords with minimum length or ensuring a combination of numbers, special characters, and letters to create a strong password. It also provides employees use Multi-Factor Authentication(MFA) for supported business systems whenever applicable.

• It is common for teams to share passwords when working remotely. That’s where the best password manager for businesses ensures that password sharing is safe and carried out entirely securely. Administrators get proper control and can prove or revoke access in minutes. It resolves the need to share passwords through unsecured channels, such as communication channels which are more likely to be hacked or interpreted.

• The corporate password manager also makes sure that offboarding is done correctly. There’re cases where ex-employees have access to company resources and systems, posing a huge security threat. The centralized approach ensures that all passwords for offboarding employees are reset.

• A password manager grants proper access control to different organizational infrastructures. Admins can use it to limit access to information crucial for any organization.

• Lastly, a password manager provides secure storage to store, access and share passwords via layered security in a business setting. The storage uses advanced encryption technology, making it impossible for hackers to access the vault of secure passwords.

Vault Password Manager for Jira is an enterprise-grade app that allows agile teams to store, manage and share credentials.

This comprehensive solution uses your company’s Forge Storage to manage credentials, eliminating third-party storage. The app works in a secure Jira instance, giving you a single control point to manage accounts, associated passwords, payment cards, notes, and other sensitive digital data.

With it, your team can securely share passwords among other Jira users and groups. To ensure efficiency, the Vault Password Manager supports one-to-one and one-to-many password sharing, eliminating the need to use insecure channels such as email or communications software.

Vault Password Manager is a complete package. It is feature-packed as it lets businesses securely store and access different types of confidential data, including credentials, software licenses, account information, etc.

It lets users create Vaults - a highly secure AES-256-bit encrypted storage space to store digital data. Employees can create private and shared vaults, enabling excellent password organization and sharing out of the box.

The employee can use a private vault to store passwords that grant him individual access, whereas the shared vault holds passwords to relevant users, user groups, or teams.

Additionally, Vault Password Manager has a built-in password generator that ensures passwords are strong. It creates long, randomized passwords with copy-paste capabilities.

The Vault Password Manager is also an excellent choice for small teams of up to 10 users, as they can use it for free.

In summary, the key Vault Password Manager features include:

• Unified Management - Control all passwords and search within Jira.
• Organized Credentials - Encrypted storage for accounts, passwords, notes, etc., with personal and team Vaults.
• Secure Sharing - Share passwords safely with Jira users; avoid insecure email/messenger sharing.
• Encrypted Storage - Uses AES-256 bit encryption and is stored in the company's Forge Storage.
• Efficiency - Centralized control in Jira, no need for external services.
• User Protection - Personal password security in addition to Jira authentication.
• Diverse Storage - Variety of credential types, both private and shared Vaults.
• Password Generator - Built-in tool for strong password creation.
• Advanced Security - Multi-layered safety features.
• Cost-Efficient - Free for small teams.

One of the biggest security threats for companies is to share passwords through unsecured communication channels. However, with Vault Password Manager, teams don’t have to worry about unsafe password sharing, primarily through email or messenger.

You can configure shared vaults that use RSA public key cryptography to share passwords among synchronized Jira users via the Vault Password Manager application. The passwords are shared, so they’ve not revealed the credentials themselves, making the data undecipherable to the platform.

In short, all the company’s passwords are always secured with 256-bit encryption, even in a shared vault. As RSA relies on the public-private key combination, the app generates an encrypted key with the receiver’s public key. And that’s why the receiver can decrypt the encrypted key with his private key, which only he can access.

Vault Password Manager uses high-level encrypted storage space for safely storing passwords. It does it using a local-only encryption model and AES 256-bit encryption.

The local-only encryption model (also known as host-proof hosting) is a secure way to make sure that only the account owner has the power to encrypt and decrypt the stored data. It removes the need to sync to Jira Forge servers and ensures that the sensitive vault information stays locally. The transfer only occurs when the storage is completely encrypted with the user’s unique encryption key.

On the encryption side, the vaults use 256-bit AES encryption, a strong encryption that is virtually uncrackable even using brute-force attacks. Additionally, the app uses locally generated hashes and encryption to make it as secure as possible.
To read more about security, check out Technical Whitepaper - Vault Password Manager - Alpha Serve.

It should be clear by now that a best corporate password manager can change how you work with credentials and other sensitive information. So, why use the best password manager for companies such as Vault Password Manager? It creates a seamless process of strong, accessing, and sharing passwords in a secure vault-based storage system directly within the Jira ecosystem.

The other benefits of choosing Vault Password Manager include the following:

• Ensuring strict password policing for employees.
• Easily share passwords among team members and individuals through secure channels.
• Organize password management without getting overwhelmed.
• Ensure proper data access through proper access control over business resources.
• Offboard employees by resetting passwords and ensuring the system’s integrity when employees leave the organization.

As a business, you get the following unique advantages that Vault Password Manager offers:

• Seamless integration with Jira: Yes! You don’t have to worry about third-party storage or security; all your passwords stay in the Jira ecosystem.

• Focus on simplicity and security: Getting started with Vault Password Manager is easy. All you need to do is install the app from Atlassian Marketplace on the Jira instance that you want to offer a seamless password management experience. Next, set up the account password, an additional security layer to your current Jira security. Finally, create vaults (as many as you want) -- either private or shared according to your requirement. Once installed, you don’t have to worry about vault management, as users can view, edit, and share vault details. The security aspect is also well-managed out of the box with 256-bit encryption and a local-only model.

• Cost-effectiveness: Vault Password Manager is a cost-effective solution, enabling you to benefit immensely from its excellent password security and pricing. Moreover, if you’re a small team, you can use it free of cost.

• Integration with Atlassian’s Forge Storage: With direct integration to Atlassian’s Forge Storage, your company password vault doesn’t have to leave the secure boundaries of the Jira ecosystem. , install the app to your Jira instance and enjoy the safe Atlassian Forge storage security with an additional layer of protection provided by Vault Password Manager.

As an organization, getting the “right” password manager for your business is vital. Vault Password Manager is the best password management software for businesses as it provides a safe house to store passwords and other sensitive information related to your business. You also don’t have to leave Jira to use it -- which gets a centralized password management solution. Additionally, it is also easy to install and use.

So, what’re you waiting for? Try it out to see how it changes password management in your organization.