Why do you need a password manager?

“Your password must be unique.” “Your password must include one number and a symbol.” “Don’t share your password with anyone.” You get it.

But sharing passwords in a work environment is often unavoidable. There are many ways to share passwords: You can paste them in a file, write them down on a sticky note, or share them through email – and put your company at risk. How to avoid that?

With Passwd, you can say goodbye to sharing passwords in a plain text document or using weak and easily guessable passwords. Our unique encryption architecture helps you manage saved passwords without entrusting them to a third party.

How exactly can Passwd help you reinforce the security of your company? Read below.

Safe team access management

First, we will not discuss personal password managers in this article, although some of what we say here applies to those too. We will focus on password managers for teams because that’s where sharing can become risky. If you want to learn more about the difference between personal and team password managers, please read this post first.

Access control is, even, today the missing link in the efforts of companies to make their access management truly efficient and safe. With plain text documents full of passwords still passed around in companies, you can hardly control who can use which password and to what end. In Passwd, you can give your team members access to passwords based on their roles and individual needs.

Moreover, you can grant access to more people at once, which is a great advantage if your company is bigger or divided into independent departments. Your designers don’t need access to accounting software, and your accountants don’t need access to design software. Just use the existing groups from your company Google Workspace (formerly G Suite) account. And if there is any trouble, you can update the password in Passwd, and your team is immediately ready to continue their work.

Encryption

Service, username, password. Storing and sharing team passwords in an Excel sheet or text document in plain text is the riskiest thing you can do with them. The security level of your storage may be high, but if your former employee accidentally causes your document to leak, all your accounts can be stolen within minutes.

We understand the risks associated with storing passwords. That’s why Passwd renders your credentials unreadable through robust encryption. Imagine your password is “qwerty”. This is what you type in when logging in to a service. But what the attacker gets is the encrypted form. It can be something like this: o4aoDr53dsqWq01eodk. So even if the database with your passwords leaks, nobody has your actual passwords – they remain protected and useless to the attacker.

Your company is GDPR compliant(er)

Not only does Passwd ensure the safety of your team’s passwords, but it also makes your company GDPR compliant(er). The General Data Protection Regulation specifies and overhauls the previously existing regulations in the European Union. The ultimate goal of GDPR is to give people greater control of their personal data. And a team password manager can help you a great deal:

Private cloud: Your data is stored on your own private cloud that only you can access. Encryption: Access to your account and your data are encrypted. Access control: Access is granted only to authorized people based on their needs. Backup: All your data is backed up, so you don’t need to worry about losing it. Passwd is a GDPR and SOC2 compliant app. However, it is up to the user to take appropriate measures when giving access. We recommend reading more on the official website. It is simple, safe, and affordable.The greatest advantage of Passwd as a team password manager is that it allows for secure delegation of access in your company. Moreover, your data is stored in your private cloud. Encrypted. You can use the browser extension to log into websites easily, as Passwd automatically fills in the passwords for you. And, last but not least, the user interface is pretty cool. Check it out.

Watch the video below to learn more about Passwd and get control of your sensitive information.