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Comparing the Top 10 Best Password Managers

Oct 4, 2022

Oct 4, 2022

Password managers are a popular option for companies to govern and secure credentials for SaaS, but they have some key shortcomings that limit their effectiveness.

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Young-Sae Song
CMO
Comparing the Top 10 Best Password Managers
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The rise in the number of SaaS apps used by employees dramatically increases the risk that companies face.  Most large enterprises use hundreds of apps, of which only a small percentage are governed by single sign on (SSO).  In many cases, 80% or more of SaaS apps are unknown to IT.  Putting all these apps into SSO is not a viable option because of licensing costs and the time it takes to integrate each app.  

Password managers are a popular option for companies to govern and secure credentials for SaaS apps not secured through SSO.  However, they have some key shortcomings that limit their effectiveness that are summarized below.  The shortcomings are discussed in more detail in the blog 4Problems with Password Managers Today.

Password Manager Shortcomings:

1.    Voluntary usage

2.    User defines passwords

3.    Weak or repeated passwords

4.    Manual password rotation

How to Overcome Password Manager Shortcomings

Grip has overcome the four primary problems of password managers.  The Grip Access product works as part of the SaaS security control plane to help companies manage and govern employee SaaS logins and passwords that are not available from any other identity or access management product.  It is the first and only SaaS governance solution where usage is mandatory and password policies are enforced automatically.  In addition, password hygiene best practices are built into the product.  For example, passwords are rotated automatically and does not require the user to remember or initiate the process.  The result is a solution that safeguards SaaS credentials more securely and protects the user from credential phishing or other attacks that target usernames and passwords to sensitive systems. 

What is the Best Password Manager?

There is no shortage of password manager products that companies may choose from, and this can make choosing a product for your company difficult.  A search for“password manager” on the review site G2 returns 96 products.  Evaluating the ratings on product review sites can help potential buyers get a sense of the market leaders.  Ultimately, the best product depends on the requirements a company has.  

Though helpful as a starting point or for creating a shortlist of password manager products to consider, the data from review sites do not tell the complete story. For example, NordPass has one review with a 5.0 on Gartner Peer Insights and LastPass Enterprise has 146 ratings with a 4.4. So, in this case, a higher rating does not necessarily mean a better product because there is an insufficient number of reviews.

 

Top 10 password managers comparison

Gartner Peer Insights

A Gartner peer-driven review ratings and reviews site for enterprise IT solutions.  Data is used by analysts to evaluate products and factored into their key reports such asMagicQuadrants.   Product categories align with Gartner’s market view.

G2

Positions itself as the world’s largest and most trusted tech marketplace for people to discover, review, and manage the software they need.  The site is for buyers and sellers and provides lead generation services for people interested in a company’s products.

TrustRadius

Describes itself as a trusted research and review platform for business leaders to find and select the right software.  The site serves buyers and sellers and provide demand generation services for sellers.

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