An increasing number of organizations have realized the benefits of password management tools, which are essential for the internal and external security of data. A password management solution keeps passwords and other log in information in an encrypted database so that users need to remember a single password to open the password manager. Providers offer password management systems with a wide range of features. This includes standalone password managers, systems with embedded security hardware, and web-based solutions. These are bundled with features such as a self service password reset tool. Cloud based solutions are ideal if you have multiple computers and mobile devices with different operating systems where passwords need to be retrieved from each device.
Two Factor Authentication
One of the major benefits of a password management system is the self service password reset that allows users to reset passwords their user accounts themselves. This helps reduce the burden on the help desk. With a Password Manager Self Service, staff no longer need verify the identity of the user over the telephone. Users can confirm their identity through authentication methods such as challenge questions before they are permitted to reset their passwords. This in turn lowers the cost of password administration and allows for the implementation of an effective security policy.