Best Password Managers for Businesses in 2024

1Password has a long history compared to other password managers; first released by AgileBits in 2006. The company is based in Canada, which might raise an eyebrow from some privacy hard cores. However, the fact is that 1Password’s provides a zero-knowledge framework so that only users (and the business) can control the keys to the vault. This kind of end-to-end encryption prevents anybody at 1Password being able to either purposefully or accidentally access stored passwords, which means that vault contents are safe against intrusion by the authorities (with a warrant) or cybercriminals that attempt to hack their servers.

It has actually also proven its worth as a password manager for teams – by being the contracted password manager for Apple and its thousands of employees. The password manager allows teams to share items securely, and allows team members to be added and removed as needed. If an employee gets locked out, access can be recovered by the account manager. And there is full control over deploying and granting access to shared vaults.

The password manager makes it easier to enforce secure passwords thanks to an automatic secure password generator. It also provides a domain breach report that scans every company business email and password online to see if there is evidence of it having been "pwned". The software will also warn users and invite them to strengthen their password if a problem is detected, or it is too weak. A business account can be used on unlimited devices, which makes it perfect for big companies with people working from home. All passwords are secured with robust AES -256 encryption before being transmitted to the online vault, and a Travel mode allows employees to remove sensitive details from their account as they pass through borders and return it later at the click of a button.

1Passwords is currently in use by over 60,000 companies around the world, it is a tried and tested service that is versatile and easy to control in full. Plus, if you have any issues, there is always 24/7 support to help you. At a cost of $3.99 per user per month, the service is fairly priced, and you can test it risk-free thanks to its 30-day money-back guarantee. A slick and scalable service that provides all the features you need to manage a team's passwords securely. 

RoboForm is a highly polished and comprehensive password manager that provides a zero-knowledge service with end-to-end encryption. This makes it completely secure and ensures that passwords can't ever be accessed server-side, even if the company is hacked by cybercriminals or approached with a warrant by the authorities.

This password manager is available for all popular platforms, and it provides one-click password loading on Chrome, Firefox, Safari, IE, Opera, Edge, Windows, Mac, iOS, and Android. It also provides auto password capture on the fly, so that you don't have to enter every password into the vault manually when you first subscribe. And if your business previously used a different service, you will be able to import passwords using a CSV file. Plus, it also automatically synchs passwords between devices to ensure that updated passwords are always made available to all team members.

Roboform has an automatic password generator to ensure that your staff always have the strongest possible passwords, and the security center analyzes your team's passwords and lets them know if any are too weak and need updating. It also warns them if a password is in use on more than one account, to ensure maximum protection. To protect against cyberattacks, RoboForm uses proven AES 256 bit encryption and all passwords are encrypted locally before being transmitted to RoboForm's cloud servers.

To ensure Teams can work efficiently, single items and passwords can be shared easily. And centralized admins can exert full control over the setting and deploying of company security rules on the platform (for either individuals, groups, or the entire company). Centralized onboarding allows team members to be added or removed by admins, and the company can choose to have as many or as few admins as they require. Plus, Two-Factor Authentication can be integrated to increase security further. All things considered, this is a superb password manager that costs around $30 per year per user and is fully scalable (with discounts available depending on how big your company is).

Dashlane is another popular password manager that implements strong team features that make it ideal for companies of any size. It is a zero-knowledge service that provides strong client-side encryption. As a result, the password stored in the vault are completely controlled by the user (in this case your business) which prevents Dashlane staff, the government, or cybercriminals from accessing your data. This removes the risk of either its New York or Paris branch being served a warrant that could force it to provide access to the contents of its servers.

Dashlane supports Two-Factor Authentication to ensure that staff requires not just a password to access their vault, but also a code sent to a physical device. It has a password generator to ensure that all passwords are unique and secure, and it is currently used by around 18,000 companies worldwide – impressive considering that this is a newer service than its competitors.

To allow teams to manage their vault effectively, Dashlane provides central controls for adding and removing staff members, and both individual items and files can be shared securely. Admins get access to security reports, compromised password alerts, and the ability to enforce custom policy settings. In addition, they can easily add and remove company accounts as necessary. And, as you would expect, it is available for an unlimited number of devices. An impressive service that has all the features you would expect – and suffers only from slightly high prices ($8 per user per month).

Sticky Password is a password manager based in the Czech Republic. It is a secure password manager with a team offering that provides a completely zero-knowledge service. This means that all passwords are hashed on the user's device using end-to-end encryption that ensures your passwords are secure against cyberattacks and government intrusion. 

The password manager allows for an unlimited number of passwords to be stored. It has apps for all popular platforms that provide auto synching, auto-saving, and auto-filling of passwords. For added security, it has a password generator that ensures your team members always have strong, unique passwords. It also permits local syncing over Wi-Fi and allows for Two-Factor Authentication. 

Sticky Password for teams allows admins to set individual permissions for different members of staff easily, and you can add and revoke access to vaults at any time. Secure sharing of passwords is available both for individual passwords and folders. And the control dashboard will issue warnings for weak or reused passwords. As a result, this is another password manager that has everything a team is likely to need. And, it costs $29.99 per user, per year – which works out at just $2.50 per month and seems very reasonable indeed for what you get.  

LastPass is a password manager originally developed in 2008 by Marvasol, Inc. In 2015, it was acquired by LogMeIn, which is based in Boston, USA. The good news is that (like our recommendations), LastPass provides a completely zero-knowledge framework that ensures only your business and its employees ever have access to the keys to the passwords in your vault. This will protect you against cyberattacks on its cloud servers, and ensures that if the company is served a warrant by US authorities, there is nothing but encrypted data stored server-side. 

Admittedly, there were reports earlier this year of its servers being attacked. And this was a wake-up call, both for this company and the password management industry as a whole. The good news is that because master passwords are always hashed before they leave the user’s device using PBKDF2-SHA256 – LastPass only stores hashed passwords server side. Thus, even during an attack such as the one experienced, hackers can not actually access user passwords. In addition, the attack at LastPass has also led to further security being implemented, which is good.

So, why does LastPass make it onto this list if it recently got bad press? The password manager is effective, it is scalable (though we tend to recommend it for teams of 50 or less). It also has vital team features such as a security dashboard for admins, dark web monitoring to warn when passwords are believed to have been compromised, shared folders, standardized security policies, advanced reporting, and two-factor authentication. It also provides direct access to the API, federated login, secure sharing, and everything else that you are likely to need. This makes it a service that is good at what it does.

We admit that the cyberattack LastPass experienced doesn't look good, but the way it dealt with it was. Even McAfee has concluded that "most LastPass users (if not all) likely have not had their password vaults compromised" by the attack. And, while having to deal with an attack is never good, the improvements that come off the back of one are. A subscription to LastPass costs between $4 and $8 per user per month, depending on the plan you choose.