With the widespread availability of social networking sites and applications for both leisure and professional purposes, password manager software can make our lives easier. After all, attempting to remember just one password already puts too much load on your brain; knowing more than one is overkill. It also doesn't help that we have to come up with lengthy and strong passwords with additional characters.

After a while, we'll end up forgetting them, and 'Forget My Password' takes too much time and effort. To help you out, we rounded up the top 5 best password managers so you can learn how to manage your passwords more effectively.

How Does Password Manager Software Work?

Password managers operate as a vault. You store all your passwords and then generate a single "master" password to access them. Rather than remembering which password is for Facebook, Twitter, or work accounts, password management software allows you to remember only one master password.

Most password manager software offers a single service to optimize security. It will also allow you to save unique passwords for each website and application and prevent password reuse.

Best Password Manager Software

What's great about the best password managers online is that layers of protection back them up. You can rest easy knowing that all your credentials are secure. For that, we present the top 5 best password management solutions comprising that functionality and more.

#1 Passwork

If you're looking for the best software to manage corporate passwords, Passwork is perhaps one of the best to consider. This password manager is mainly geared toward the professional world, allowing you to work collaboratively with your corporate credentials in an entirely secured setting. Your employees' passwords are freely accessible, and local system administrators can closely monitor and restrict their rights and actions.

One of the most significant benefits that Passwork can offer businesses is the self-hosted version, which is maintained by the company itself and does not require internet connectivity. Other than that, they also provide one of the fastest and best quality technical assistance, as well as the ability to authorize through SSO, connection with LDAP/AD, feature-rich mobile applications and browser extensions, and the ability to save and produce TOTP codes.

In essence, Passwork provides a solution for businesses that are concerned about data transmission to the Internet. Plus, it is a key for administrators who wish to spend as little time as possible adding users to the system and granting them access permissions.

Key Features

• Automate security auditing: This eliminates passwords that are insecure, outdated, weak, or hacked. You can also customize vault and folder permissions and enable role-based access management. Keep note of all activities and go through previously used passwords.

• Work and collaborate: Invite teammates to shared vaults and files. For quick and simple access, just utilize the Search Bar, Tags, and Color Labels. Or take advantage of integration with AD, Azure AD, and LDAP.

• Manage corporate passwords in a structured way: Passwork lets you store passwords systematically, avoiding the additional work associated with this process. You could also import and export passwords with ease. Then you can select a bright, dark, or mixed look on your interface.

• Easy to use and implement: Using Passwork won't be much of a hassle. You can quickly obtain your corporate password from your mobile phone wherever you are. Alternatively, you can use a browser extension to input, generate, or manage your company's passwords in a matter of seconds.

Additionally, if you're looking for a password generator, Passwork's generator tool can generate a safe password for you. Creating a strong password for whatever purpose you have in mind can minimize security concerns.

Benefits

• Suitable for companies of all sizes

• Flexible pricing depending on your needs and team members

• Employee training and implementation are simple and quick

• Self-hosted version for businesses who wish to minimize data being transmitted to the Internet

• Features and integrations to lessen the workload of administrators in managing roles and access

• Allows employees to quickly, securely, and conveniently access the corporate services they require for their jobs

• Available in a mobile app for iOS and Android and browser extension for Google Chrome, Mozilla Firefox, Microsoft Edge, and Apple Safari

• Capability to audit security, see and adjust activity history, and clearly separate access rights as well as change all access to departing workers as soon as possible

• Overall better data security leads to a considerable decrease in material and reputational costs associated with corporate password breaches

Not just that, to improve your experience better, Passwork made a generous update to its already-rich features. Aside from the migration to PHP 8, the new update includes a new access rights window, a quick view of who accessed vaults and folders, and the ability to grant access to individual passwords without adding users to a vault.

You may also add TOTP keys and generate 2FA codes, see failed login attempts in the action history, enable priority authorization using SSO, and other handy attributes. This release also enhanced the LDAP integration and made a few improvements to the mobile application for a streamlined app interaction.

Now, to meet your demands for managing all your corporate passwords, you can join over 1,000 organizations using Passwork. This password manager is free to try! Request a demo and get a quote for your business type and needs.

#2 Keeper Security

Keeper is one of the best password managers that provide secure, unique passwords and automatically fill them into websites and apps. Besides passwords, it also scans and stores your credit cards securely for faster checkout on websites and applications. Using this password management software, you can keep your critical information, papers, images, and other files in an encrypted digital vault.

Keeper is one of the best software to manage passwords since it simplifies the process of managing and safeguarding your credentials and other sensitive information. All these are done by utilizing customizable fields in conjunction with your current records. It also allows you to add up to 5 emergency numbers that will have vault access in the case of an emergency.

Moreover, this password manager supports all two-factor authentication methods, including TOTP, SMS, fingerprint (or Touch ID), facial recognition, and more. You can also save and recover prior revisions of your records. You can also generate, share, and manage records privately with family, friends, and coworkers.

This password manager software works on all your mobile devices and computers and syncs instantaneously. It also provides add-ons to enhance your experience with its security measures.

Key Features and Benefits

• Automatically fills out websites and apps

• Remembers and protects private info

• Lets you share information and grants emergency access

• Includes secured and encrypted vault

• Works with two-factor authentication

#3 Dashlane

Dashlane is a password management system that benefits your company, team, and you. This password manager aims to optimize password security and efficiency and grant you peace of mind. It offers a simple staff management system and the strongest security framework that can't be easily compromised. Rather than sharing passwords insecurely over email or Slack, employees may safely exchange user credentials with people or groups.

Dashlane features Smart Spaces where your staff can keep personal and professional credentials segregated. Admins may check an employee's password integrity in their Business Space without invading their Personal Space.

Every employee receives a unique Password Health Score that details their weak, overused, and hacked passwords. Furthermore, customized security notifications will notify users whenever a breach damages their data.

It's one of the few password managers that can also bring in new team members, adjust access, and track security risks from the Admin Console. It also includes a reporting dashboard that helps you identify password issues, urges action among individual employees or teams, and monitors improvements over time.

Key Features and Benefits

• Works best for professional purposes

• Protects you and your team's credentials

• Has personalized protection options

• Lets you share securely

• Encrypted with U.S.-standard security

#4 LastPass

LastPass is a password management software that strives to make your digital life simple and safe. Once you save a password with LastPass, you'll always have access to it whenever you need it since logging in is quick and simple. By employing its Authenticator instead of your master password, you can have fast access to your LastPass vault.

The built-in password generator provides lengthy, varied passwords that keep hackers out. You can easily and securely share these with anyone. You also do not have to be concerned about data leaks. Receive notifications if your private details are at risk. Aside from that, insurance cards, memberships, and Wi-Fi passwords are all secure and easy to locate.

There is also a Security Dashboard, which operates as your digital security control station. You can see your poor and recycled passwords and any warning on ransomware attacks that require quick action in a single view. You can even protect your credentials by turning on dark web monitoring in the Security Dashboard.

Key Features and Benefits

• Easy to navigate with a security dashboard

• Uses an authenticator to log you in easily

• Generates stronger passwords for you

• Safely tucks away digital records

• You can share your passwords in a secure way

• Data breach notification and dark web monitoring

#5 Psono

Psono is a password manager that debuted in 2015 and is now available in over 68 countries, with over 4000 installations and 2 million downloads. It has several features designed to provide you with ease and security. This password manager presently supports Google Authenticator and all compatible applications, such as Authy and YubiKey OTP, which may be used in parallel with its three-factor authentication.

Simply install its extension, and it will auto-fill password fields, do a rapid search of your credentials, provide superior security, etc. To avoid numerous valid codes existing at the same time, each account established after joining up with Psono will receive a single recovery code. Making a new one will always erase any previous ones. Then if you were previously using another password manager, Psono has a migration option that allows you to effortlessly import the export files from that password manager.

Key Features

• Multi-level encryption: Begins with a client-side encryption layer that provides genuine end-to-end encryption for password exchange. SSL and storage encryption follow this.

• Open source: Offers transparent public auditing capabilities of the whole code. Correct encryption provides security, not masking security vulnerabilities.

• Self-hosted: A self-hosted credential management allows you to host the server yourself, giving you even more access control options. So there's no need to rely on public resources for your data.

These features serve as a competitive advantage for Psono, making it one of the most secure password managers on this list. But these are not the only features you can come across with. To see them in detail, here are the features Psono can offer:

• Password syncing across all devices and sharing between users

• Password generator for random passwords similar to their online password generator

• Security report to audit your passwords' age, complexity, and length

• Secure notes to store other information

• Bookmarks to store other information

• Multi-browser and mobile support

• Password export for all stored credentials

• Copy to clipboard and password import

• Access control to limit rights

• PGP Encryption and PGP Mail provider integration

• Access your passwords even offline

• API Keys allow the integration of passwords in build pipelines or startup scripts

• Emergency Codes to solve the digital legacy problem in case of emergencies or decease

• History and old versions of credentials

• Broad language support

• Password Breach Detection

If you want to use Psono for business, there is an Enterprise Password Manager that gives you access to exclusive capabilities. You may log in to your company's LDAP server, SAML, or OIDC IDP, as well as change passwords, manage email addresses, and deactivate users from a single location. Access features that will help you improve your compliance and auditing skills. Or impose rules on your users, such as requiring two-factor authentication or disabling functionality like export, emergency, or recovery codes.

Benefits

• Lets you store more other than passwords

• Share digital records and credentials in a secured way

• No manual inputs of passwords with auto-fills

• Open source with no hidden backdoors but with full audit capability

• One of the most secure password managers

• Lets you host the password manager software on your own servers

• Good for personal and corporate use

• Easily look for and access your credentials and records

• Multi-language and multi-compatibility of devices

• Cross-platform password manager

Overall, Psono maintains all passwords in the safest vault. It features built-in functions that auto-fill your passwords with a single click, just like any other enterprise password management tool. It offers cross-platform sharing of credentials and digital records and multi-factor authentication accessible offline and on any device. It's also quite simple to set up.

If you're ready to forget all your passwords but gain access to them 24/7 in the most robust infrastructure to make your life easier, Psono is the way.

Both the Community and Enterprise Subscriptions are totally free, with the latter offering up to ten users, making it ideal for teams and businesses. Get a free trial and start managing your passwords better, whether on your own servers or in the cloud.

Which Is the Best Password Manager?

There are several types of password managers, each using different technology and mechanism to store data. However, in general, the password is saved in the vault and is protected by a master key. Your credentials are protected and only stored in encrypted form by a password manager. This implies that even in the event of a big data breach, all encrypted data is rendered worthless to the intruder.

For that, we highly recommend Passwork, LastPass, and  Psono for more secure password storage and management. But if you want security combined with a wealth of features, you can try all our top 5 best password manager software.