Best Password Managers In 2024
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It’s tempting to use the same password for all your accounts, but that opens you up to all sorts of cybersecurity risks. It’s also a huge headache to memorize and keep track of all your credentials. That’s where a password manager can be helpful. These services store and keep unique passwords for all your different services in a centralized, secure location. Best of all, these systems typically cost just a few dollars a month—and some are even free.
Forbes Advisor evaluated the best password managers available today. We selected these options based on cost, features, usability, and other factors. Find the right solution for your needs.
Featured Partners
1
NordPass
Price starting
INR 123.85 ($1.49) per month
Money-back guarantee
30 days
Best security feature
Multifactor authentication (MFA) availability
2
LastPass
Price Starting:
INR 249.35 ($3.00) Per month
Free trial:
30 days
Features:
Unlimited Number of passwords, Multifactor Authentication (MFA)
The Best Password Managers of 2024
Comparison of Best Password Manager
Plans and pricing of Password Managers are accurate as of Sept. 26, 2024.
Methodology: How We Test Best Password Manager App
At Forbes Advisor, we use a scoring system in which factors are weighed, and each consideration contributes to the best possible score. We average each section’s total and add them together to give each product a final score, and the items are then ranked accordingly.
Here are the specific features we think make up the best password managers for this list.
Pricing
We are always on the lookout for products with great freeware. We also recognize that some of the best password storage services out there offer their services for a premium. We also paid attention to whether the service offers better value in its higher-priced plans. Pricing accounted for 25% of our weighted scoring.
Features
We recommend tools with the widest range of components that work well across most platforms. Ideally, they allow users to secure passwords and other important company data as effectively as possible.
For example, we are concerned with recommending password management tools that have excellent security features. For password managers, we considered elements such as the level of encryption, the presence of MFA, and whether the service checks the dark web for your information. Other features we looked for included autofill web forms, support for multiple forms, biometric functionality, and the ability to unlock mobile PINs and import data from browsers. We weighted features at 35% of our total score.
Third-party reviews
We value the opinion of actual users of these products, so we turned to third-party review sites G2 and Trustpilot to get a true picture of how each password manager is viewed by those using the product. We looked for quality reviews, choosing those that received at least a 3.5 out of 5 on each site and weighing the number each provider received. Reviews accounted for 15% of the final score.
Expert analysis
Our team of experts had the final say. Using those same customer reviews, we looked at several factors, one of which was ease of use. Occasionally, we will feature products with a steeper learning curve if they possess other features that make them worth your consideration. However, we prefer products that have a more modern, sleek interface that is easy to navigate. In addition, we also looked at how these password managers performed in regard to popularity, value for the money, and the number of stand-out features they offer. Altogether, these criteria make up the last 25% of the total score.
How Do Password Managers Work?
Password management tools work by keeping track of your login and password information across every account you own. Consider the many accounts you use that require a login. From social media accounts to online banking, you may have anywhere from several to dozens of passwords to keep track of at any given moment.
Instead of struggling to memorize logins for every account, password managers let you store all account information in a centralized and encrypted vault, accessible through a single master password. Knowing that one login is all you need saves you a headache and drastically reduces concerns over hacking or identity theft.
1
NordPass
Price starting
INR 123.85 ($1.49) per month
Money-back guarantee
30 days
Best security feature
Multifactor authentication (MFA) availability
2
LastPass
Price Starting:
INR 249.35 ($3.00) Per month
Free trial:
30 days
Features:
Unlimited Number of passwords, Multifactor Authentication (MFA)
Are Password Managers Safe?
Password management services are typically safe. They protect your data through a series of strong, hard-to-guess passwords across all accounts, all managed in one place. The data is typically encrypted in a central vault, and although hacking isn’t impossible, it’s scarce. The best products are designed to keep your information safe, and provided you are mindful of who has access to your manager, you should be able to enjoy a far more secure online experience.
It is still your responsibility to be mindful of how your information gets used and by whom. For instance, if you routinely share passwords without knowing who else your friends, family, co-workers, or employees, in turn, give that information to, then you still run into security issues. These services are designed to make password protection easier, but they require you to make good calls with how freely you share data on and off the Internet.
Passwords that are weak, used in most accounts, or reused are at greater risk and can be simply misused to get access to apps you use on your devices. Thanks to password managers who provide users with a secure vault to store their passwords for banking, insurance, shopping, and other apps. It protects your account in a way that requires one or more authentications to access your vault, hence to keep your data safe via top encryption technology. It can be availed free of cost or comes bundled with antivirus software plans.
What To Consider When Buying a Password Manager
Given the prevalence of data breaches and weak passwords, you should consider a manager one of the most important purchases your company can make. For this reason, you’ll need to carefully consider a few key factors before making a purchase:
Is the freeware good enough quality to forgo an upgrade? Although many password services offer a free tier, many are so limited in their function that they are frustrating. On the other hand, when purchasing password management software, you should make sure that you have access to all the features you need at a price you can afford.
What would you do if you lost your master password? Thanks to a “zero knowledge” policy, some services might find it difficult to recover your account if you somehow misplace your master login credentials. That is why you should understand any necessary steps you would have to take.
Which team members get access to your password management account and how should information get shared both internally and externally? Some managers make it impossible to share passwords, while others let you delegate access and form groups.
How easy or hard will it be to train employees to use the new system? While some password managers emphasize ease of use, others might require more technical knowledge. You want to make sure you purchase a system that your team members can easily grasp.
Once you have a general idea of your own or your organization’s needs, you should be much more confident about finding the right password management tool.
Password Manager Cost
Some companies, such as Norton, provide a free password manager. Others let customers test them during a free trial, after which they can sign up for premium service. These services typically charge a few dollars per month; when paid annually, you might spend anywhere from $10 to $60 for an entire year of service.
Though some respectable freeware makes our list, it could still be worth it to choose premium password management tools, as the service may feature extra security options or online perks that make the experience worthwhile.
Be sure to read reviews and customer testimonials regarding features and experience before moving to a premium service.
Cloud-based vs. Locally Managed Password Management
The difference between cloud-based and locally managed password managers comes down to where your information gets stored. When managed locally, all relevant login information is held in a file on your specific device. Cloud-based managers, meanwhile, hold everything online through cloud computing. When passwords get stored using cloud-based managers, there are no copies made onto the device.
Each type of manager has its advantages and disadvantages. For example, you can easily access password information through a locally managed service. However, if you lose the device, you also lose access to all of your stored passwords. Likewise, password data stored in the cloud can be used across all of your devices, but the service is unavailable if you lack Internet access. It is ultimately a matter of personal preference and specific needs.
Notes on the 2022 LastPass Breach
In August 2022, LastPass published a notice on its blog about a security incident in which some of the company’s source code and technical information were stolen. According to LastPass, the breach was caused by a single bad actor who gained access to the Development environment through a compromised developer endpoint. The person acted within a four-day window, during which LastPass’ security team detected and shut down the issue.
Per LastPass’ notice, there was never any confirmation the person was able to gain access to customer information. The company credits its system design and encryption with keeping the breach from reaching user data.
Following the outcome of their investigation, LastPass determined that because no customer data was compromised, users need not take any actions, such as changing their passwords or login information.
Although LastPass was transparent about the breach and how the situation affected customers, it is understandable that customers may feel concerned. This is the second breach in several years, and the 2015 data breach forced users to change their name and password information.
Some users might see multiple breaches from a password management brand as proof that they should switch to a new service. Others might see the security team’s ability to prevent a breach similar to 2015 as evidence the company learned from past mistakes. Should you opt to continue using LastPass, it may still be a good idea to update your password information, regardless of whether the company finds it necessary, if only for your own peace of mind. Learn more about how to share passwords safely.
1
NordPass
Price starting
INR 123.85 ($1.49) per month
Money-back guarantee
30 days
Best security feature
Multifactor authentication (MFA) availability
2
LastPass
Price Starting:
INR 249.35 ($3.00) Per month
Free trial:
30 days
Features:
Unlimited Number of passwords, Multifactor Authentication (MFA)
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