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Best Password Management System Software 2025
Password Management Systems are a subset of identity management software dedicated to the generation, storage, retrieval, and securing of passwords. Chiefly password management provide an extra layer of security by creating intensely strong passwords which the user does not have to remember, who logs in using only a password that allows access to the password manager; provided the device or devices required for login are not compromised this may present an acceptable and desirable balance ...
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Learn More about Password Management System Software
What is Password Management Software?
Password management software provides a secure tool for users to stash, generate, and manage their passwords for local and web-based applications. Users access these passwords through an encrypted vault on the user’s device or via a plugin or extension on a web browser and no longer have to waste time searching or trying to remember the vast number of passwords for all the applications they need for work or personal use. Password management tools are also used by IT administrators to safely distribute passwords for shared accounts across teams of individuals and to set password standards (such as a minimum password strength or mandated password changes).
Many software applications are solely dedicated to password management. However, password management systems can also be one of many features included in Identity Management Solutions. IMS suites offer a fuller array of identity-related features such as Single Sign On and Multi-Factor Authentication that most often include more advanced features than a Password Manager tool.
Password Management Software Features
Password management systems should have many, or all, of the following features:
- Compliance and Policy Enforcement
- Sign-in attempt review
- Firewall rules
- Two-factor authentication
- Self-service password reset
- Admin Console
- Random Password Generator
Password Management Software Comparison
Consider these factors when comparing password managers:
- Type and amount of storage: Password managers can differ in how passwords are stored and the amount of storage available. Basic subscriptions generally offer very limited data storage which may be fine for individual users, but may prove to be insufficient for enterprise use cases. Furthermore, depending on the security and compliance requirements of an organization, a cloud or device-based storage option may be best.
- Password sharing: One standard difference between basic and premium subscriptions to password management tools is that basic subscriptions tend to only allow one-to-one sharing, whereas their premium counterparts allow for one-to-many sharing.
- Device access: How many devices will you need to access your passwords on? Some subscriptions allow access only on a single device while others allow unlimited access.
Start a password management system comparison here
Pricing Information
Pricing for password management products is determined by the type of user (personal vs. business) and the level of access (standard vs. premium). Vendors sometimes offer free plans for individual users with limited available features. For paid individual plans, users can expect to pay something between $10-$40 dollars for a basic plan and $40-$60 for a premium plan. Premium plans generally consist of more extensive sharing and security features. Business plans tend to be more expensive but more feature-inclusive. A typical basic plan for business will cost between $25-$50, whereas a premium plan will cost between $60-$100. Some vendors also offer custom pricing for business clients. Most vendors also offer a free trial period of at least two weeks for both individual and business users.
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Password Management System FAQs
What does Password Management Software do?
Password Managers store and manage the passwords for web-based and local applications. They also enable businesses to manage and distribute passwords for accounts shared across an organization.
What are the benefits of using a Password Management System?
Password management systems release users from the burden of having to remember passwords for every single application they use for work or otherwise. From a business perspective, this saves time and money as employees no longer waste time trying to remember or access their passwords; and it adds an extra layer of security to sensitive data.
How much does Password Management Software cost?
Many Password management vendors offer a free solution for individual users that comes with a limited set of basic features. For more extensive use cases, a single seat on a basic plan can be purchased for $10-$50 per year, and premium plans for $40-$100 depending on whether it is for personal use or business.
