Password managers are great options whether you use the internet for business or your personal use. However, many people do not understand the importance of these password managers, because they are not aware of how these managers work.
We are going to discuss all there is to know about these password managers in this complete guide. Let us begin by discussing some basics.
What is a Password Manager?
Password managers are applications that store all your password-related information on your device. These password managers are a secure and effective method to create records of all your passwords for future reference.
These managers help you remember your password when you want to log in to a site again. You can use them to fill in the credentials for your accounts with a click and do not need to do it manually.
Interestingly, several password managers can store much more than just passwords for their users. For instance, you can use the passwords managers to secure the following kinds of information.
- Credit card details
- Documents
- Secured notes
- Sensitive information, etc.
How Much do Password Managers Cost?
The costs for password manager applications vary depending on the provider. However, according to statistics, the cost for a single password manager (typically supporting up to 5 people) costs under $40. Notice that this number may differ according to the password manager application you choose.
The change in prices usually varies for users depending on the number of users, and features they need. The prices are directly proportional to the number of users in most cases. Commercial use of these password managers will also contribute to a price increase.
Are Password Managers Worth Paying for?
Passwords managers are surely a great option for users who want to store their information safely. The best part is that these password managers aren’t limited to password storage. It is because these password managers offer plenty of other benefits. These include the following:
- Syncing passwords
- Multi-device sync
- Breach detection
- Dark web monitoring
- Two-factor authentication
- Enhanced encryption, etc.
Can Password Managers be Hacked?
Yes, it is possible to hack password managers; however, it is very unlikely that this happens. There are various reasons for this, but password managers’ multi-layer protection makes it nearly impossible to hack password managers. Additionally, reputable password manager services will also guide their clients regarding steps in case of a data hack scenario.
Should I Use a Browser Password Manager?
Utilizing a dedicated password manager is the best way to store information and ensure protection. However, there are a few concerns that you should keep in mind before this. Consider the following.
Browser Limitation
Browser password managers may offer better protection but they are limited to a certain internet browser. It means information, credentials, and passwords saved on a browser manager are not valid for others. You cannot sync your browser passwords on your mobile devices or other places you want.
Limited Storage
Browser password managers have a limitation as compared to traditional password manager applications. For instance, online password managers can only store account password details. However, you cannot store other sensitive information on these browser password managers.
Limited Password Sharing
The browser password managers do not let users share their passwords with their family, friends, or other trusted accounts. This makes password use much more complex.
No Password Recovery
Browser password managers do not allow users to recover their entered passwords if they get deleted. This can delete all the stored information and cause a lot of problems. However, it is also an effective preventive measure against unwanted data usage by third-party users.
Factors while Choosing a Password Manager
The password manager offers several benefits. However, the kind of password manager you choose matters. Therefore, we are going to mention some factors to help you choose the right password manager. These include:
- Cost
- Know Memory Limits
- Multi-factor authentication (MFA)
- Password Storage Location
- Payment Methods
- Support
Choosing a password manager that has security measures, good affordable rates, flexible payment methods, and reliable support service should suffice your password management needs. Ensure checking all these features the next time you choose a password manager on your site. It will help you keep things more streamlined, and reap better benefits.