The Best Password Managers for Businesses 2024

The top password managers for small businesses offer robust security, seamless integration, and competitive pricing. Learn about our experience testing 1Password, Bitwarden, LastPass, NordPass, and Dashlane.
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Featured

5.0
Editorial Rating
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On NordPass's website

NordPass
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Best Security Features

4.9
Editorial Rating
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On 1Password's website

1Password
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Best for Budget-Conscious Businesses

4.8
Editorial Rating
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On Bitwarden's website

Bitwarden
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Best for Team Collaboration

3.8
Editorial Rating
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On LastPass's website

LastPass
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Password managers can help businesses by generating and securely storing complex, unique passwords for every account, which minimizes the risks associated with data breaches and unauthorized access.

Our top picks for small businesses are 1Password, Bitwarden, LastPass, NordPass, and Dashlane. These password managers provide comprehensive security features and boast user-friendly interfaces and competitive pricing, making them the ideal choice for businesses seeking to bolster their online security posture. We think 1Password is the top choice due to its proprietary security features.

Learn more about our experience with these recommended security solutions and which password manager is right for your business. 

In this article
The best password managers for businesses 2024
1Password: Best for comprehensive security features
Bitwarden: Best for budget-conscious businesses
LastPass: Best for password sharing and team collaboration
Honorable mentions
FAQs
Bottom line

The best password managers for businesses 2024

Password managers are essential for businesses of any size. They help secure access to sensitive information, protect accounts from data breaches, and ensure compliance with regulatory standards. While many password management solutions are available, not all offer the same levels of security and convenience. Below is a list of some of the best business password managers based on our experience.

  • 1Password: Best for comprehensive security features
  • Bitwarden: Best for budget-conscious businesses
  • LastPass: Best for password sharing and team collaboration

Top 3 password managers for businesses compared

Password manager
Star rating
4.9
4.8
3.8
Starting price Teams Starter Pack for $19.95/mo (up to 10 users) Teams for $4/mo per user Teams for $4/mo per user
Password sharing
Encryption AES-GCM-256 AES 256-bit AES 256-bit
Password generator
Password strength report
Autofill
Compatibility Windows, macOS, Linux, Android, iOS Windows, macOS, Linux, Android, iOS Windows, macOS, Linux, Android, iOS
Learn more See 1Password Pricing See Bitwarden Pricing See LastPass Pricing

How we test and rate password managers

We put every password manager through vigorous hands-on testing by downloading the software to our own devices. We test how the product works on both mobile and desktop, evaluating how well we're able to save, share, and use passwords across a variety of situations.

By taking a fine-tooth comb through all available features and settings, we carefully compare each product using our proprietary grading rubric. The star ratings take into account price, features, extras like cloud storage and data breach alerts, plus looks at security and privacy features like encryption levels and past data breaches. 

To learn more about how we test, check out our full testing methodology here.

We thoroughly tested and evaluated password managers by considering a range of essential features crucial for small businesses. We believe these features are vital for businesses to ensure the security and efficient management of sensitive data.

  • Security: We looked at encryption standards, two-factor authentication, and other security measures to ensure that stored data is well protected.
  • Ease of use: A user-friendly interface is essential for quick adoption and seamless daily usage by all team members.
  • Cross-platform compatibility: We considered password managers that work well on various platforms and offer various browser extensions, ensuring accessibility for every team member, regardless of the device they use.
  • Password sharing: The ability to securely share passwords among team members is essential for collaboration and efficient workflow.
  • Pricing: We accounted for the pricing plans and the availability of a free version to ensure affordability for businesses of different sizes.

By evaluating these features, we narrowed down our top three password managers, offering the best solutions for small businesses.

1Password: Best for comprehensive security features

4.9
Editorial Rating
Learn More
On 1Password's website
Password Manager
1Password
  • Secure password manager with no history of being hacked
  • Unique features, like Travel Mode
  • No free version or money-back guarantee

Who it’s best for

1Password is an ideal choice for small business owners and employees who prioritize robust security features, appreciate an intuitive user interface, and require seamless integration with multiple platforms. This password manager caters to users who manage multiple accounts, collaborate with teams, and need to securely share sensitive data.

What we liked

1Password stands out due to its comprehensive password security offerings. Your data is protected with AES 256-bit encryption, which is the industry standard for encryption.

The Watchtower feature is a particularly valuable addition, as it proactively monitors users' accounts and alerts them to potential security breaches or weak passwords that need to be changed into strong passwords. This ensures businesses can take quick action to minimize the risk of unauthorized access to their sensitive data. Watchtower even notifies you of accounts that support two-factor authentication (2FA); that way, you can turn it on and keep your passwords safe.

The 1Password Watchtower feature lets you check the overall health of your passwords and vault security.

What we didn’t like

While 1Password offers a wide range of security features and an intuitive user interface, one potential drawback for small businesses might be the absence of a free version. For those with very limited budgets, this could be a deciding factor when choosing a password manager.

Read Our 1Password Review

Bitwarden: Best for budget-conscious businesses

4.8
Editorial Rating
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On Bitwarden's website
Password Manager
Bitwarden
  • Fully functional free plan
  • Open-source software
  • Sharing limited to one person with paid plan

Who it’s best for

Bitwarden is an ideal solution for small businesses seeking a secure and reliable password manager while on a budget. With its open-source nature and transparent security model, Bitwarden provides a cost-effective solution without compromising on essential features.

It's perfect for businesses that require password management tools — such as password sharing, password generation, secure storage, and two-step login — but also want to minimize their expenses while maintaining a high level of security for their digital assets.

Bitwarden's two-factor authentication options.

What we liked

We were particularly pleased by Bitwarden's open-source platform, which promotes transparency and continuous enhancement of its security features. This open-source nature fosters user confidence while also allowing the community to contribute to its growth. Bitwarden's low cost and free version make it a viable option for enterprises of all sizes, even those with few resources.

What we didn’t like

While Bitwarden offers a strong feature set, it lacks some of the sophisticated capabilities seen in commercial password managers such as 1Password. For example, it does not provide a security dashboard like 1Password's Watchtower, which monitors and notifies users of potential security breaches and insecure passwords.

Read Our Bitwarden Review

LastPass: Best for password sharing and team collaboration

3.8
Editorial Rating
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On LastPass's website
Password Manager
LastPass
  • Helpful features like family profiles and a password generator
  • Compatible with lots of browsers, OS, and devices

Who it’s best for

LastPass is ideal for small businesses looking for a feature-rich password manager that combines convenience and security. It is suitable for those who require seamless integration with various devices and the ability to manage and share passwords easily among team members.

With its intuitive interface and extensive features, LastPass caters to businesses that need to maintain high levels of security while ensuring ease of use for employees.

LastPass has a robust security dashboard that helps you see the overall strength of your password safety.

What we liked

LastPass impressed us with its complete collection of features tailored to small organizations, making it an ideal choice for improving online security. The platform's user-friendly interface enables a seamless connection with numerous devices, making it easy for staff to maintain and securely exchange passwords. It also provides several options for multi-factor authentication (MFA), such as biometrics, authenticator apps, one-time passwords, and more.

In addition, LastPass's admin dashboard provides an impressive selection of customizable settings. This includes options to assign different levels of permissions and access rights, allowing admins to control who has access to what information. These features have proven useful in our experience when dealing with employees who need privileged access to systems or confidential customer data.

LastPass makes it easy to share passwords with others and you can even keep shared passwords private.

LastPass also offers dark web monitoring to monitor your accounts for breached information; it sends you alerts if it has been compromised.

What we didn’t like

One noteworthy source of concern for users is its history of previous data breaches, which may cause fear for some consumers. Although LastPass has already taken steps to improve its security, it is still critical to be careful and diligent when choosing any password manager.

LastPass has another drawback: the free version has limited functionality compared to its premium counterpart, which may be a concern for small businesses with tight budgets. The free plan doesn't allow password sharing, which is an essential feature for team collaboration, forcing users to upgrade to a paid plan to access this feature.

Read Our LastPass Review

Honorable mentions

We'd also recommend NordPass and Dashlane for small enterprises based on their ease of use, security features, and extras.

NordPass

5.0
Editorial Rating
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On NordPass's website
Password Manager
NordPass
Up to 56% + 3 extra months
  • #1 ranked password manager with a strong history
  • Trusted Nord name backed by above industry standard encryption
  • Grab NordPass on its own or opt for a fully-featured security bundle
  • Free version limited to one device at a time

NordPass is a cloud-based password manager developed by Nord Security, the trusted cybersecurity name behind NordVPN. This password manager offers secure password storage, a password generator, autofill capabilities, and the ability to share passwords securely with team members. NordPass also includes a zero-knowledge architecture, ensuring your company data remains private and secure, as only you hold the decryption key. The Teams plan is $1.79/mo per user.

Read Our NordPass Review

Dashlane

4.6
Editorial Rating
Learn More
On Dashlane's website
Password Manager
Dashlane
  • Easy to use and seamless
  • Paid plans come with Hotspot Shield VPN
  • Extra features boost security
  • Free plan is limited to one device and 25 passwords

Dashlane is a well-known password manager that offers password creation, autofill capabilities, and safe password sharing with team members. Dashlane also has a digital wallet for storing and managing online payment methods and a virtual private network (via HotSpot Shield VPN) for increased privacy protection when browsing the web. Despite its outstanding feature set, Dashlane didn’t make our top three because of its higher pricing point for business plans, which can be a major worry for small enterprises on a tight budget. Its Standard plan is $20/mo (up to 10 users). 

Read Our Dashlane Review

FAQs


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How do enterprises manage passwords?

Enterprises manage passwords by using password manager plans that are specifically designed for businesses, which offer features such as centralized control, secure password sharing, user management, and access controls. These providers help enterprises maintain complex passwords, reduce the risk of breaches, and streamline enterprise password management across teams.


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Are password managers safe?

Password managers that use strong encryption to protect stored passwords and sensitive information are safe. By enabling users to create unique and complex passwords for each account, password managers significantly reduce the risk of breaches.


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How often should you change company passwords?

There is no one-size-fits-all answer, but a good rule of thumb is to change company passwords every 60 to 90 days. It is crucial to balance security and practicality, as changing passwords too often can lead to weak passwords and user frustration. Implementing multi-factor authentication (MFA) and monitoring for suspicious activity can also help enhance security.

Bottom line

Based on our experience, the top three password managers for small businesses are 1Password, Bitwarden, and LastPass. We think 1Password is the best overall because of its advanced security features like Watchtower.

Bitwarden provides a cost-effective and transparent open-source solution. LastPass stands out for its feature-rich platform that combines convenience and security for seamless password management.

3 best password managers for businesses 2024

Starting price Best for Learn more
Teams Starter Pack for $19.95/mo (up to 10 users) Best for comprehensive security features See 1Password Pricing

Read 1Password Review

Teams for $4/mo per user Best for budget-conscious businesses See Bitwarden Pricing

Read Bitwarden Review

Teams for $4/mo per user Best for password sharing and team collaboration See LastPass Pricing

Read LastPass Review

4.9
Editorial Rating
Learn More
On 1Password's website
Password Manager
1Password
  • Secure password manager with no history of being hacked
  • Unique features, like Travel Mode
  • No free version or money-back guarantee
Author Details
Ryan Clancy is a freelance writer and blogger. With 5+ years of mechanical engineering experience, he's passionate about all things engineering and tech. He loves bringing engineering (especially mechanical) down to a level that everyone can understand.