How To Choose The Right Password Manager?

Last Updated: Jul - 11 - 2020

With a couple of obvious guesses such as your date of birth, your child or pet’s name and Kaboom! The password is stolen!

Here, you will learn about everything you need to know before choosing the best password manager.

“Big company or website got hacked” is not big news nowadays because it happens so often. There was a time many people wondered, “Meh, it won’t happen to me,” but now they are seriously considering ways to protect their passwords and other important information from hackers. Their quest to search for the best ways to protect one’s information from hackers has led them to one popular alternative that is even highly recommended by cybersecurity experts: Using a password manager.

As most people don’t use long passwords and opt for repetitive passwords, which make stealing information a lot easier for hackers, cybersecurity experts highly recommend using a password manager because it is an effective way to make sure you have strong, random, and complex passwords for online accounts. You might’ve heard or read somewhere that using a password manager helps secure your passwords and now you’re searching for how to choose the right password manager. Let’s find that out.

Tips on How to Choose The Right Password Manager

If your password is “America123” or anything that can be guessed, there is a high possibility some hacker will crack it. But a password manager generates your password, such as “JK}9xE%VeRyunao#7f}w”, then it may take ages to crack it and it is not even worth the effort.

Tip 1: Reputation Matters A Lot

Experts recommend using a password manager that has a good reputation because you don’t want to use software that is frequently hacked or has security flaws. Do some research on it and then make the decision. Most people opt for Dashlane as it is regarded as one of the best password managers around, but it doesn’t mean there aren’t other reliable ones.

Tip 2: Look for Security

As all password managers are not created around the same security protocols and features, you need to make sure that the password manager has the following security features:

  • 2-Factor Authentication
  • Password Generators
  • Password Flagging
  • Encryption level (AES 256)
  • Backup and recovery

There are some password managers that even give notification to you when there is a breach in the websites you’ve been using.

Tip 3: It Must Have Multi-factor Authentication or 2FA Feature

When choosing a password manager, make sure you do not go for the one that doesn’t have the multi-factor authentication or 2FA feature. The MFA requires two or more modes to provide your identity, such as your password, fingerprint, and security key. 2FA requires two modes of proof, such as your PIN or bank card.

Tip 4: Look for Important Features

A password manager should keep your passwords and other information more secure, but here are the features that are too important to ignore:

  • It needs to store unlimited passwords
  • It needs to help you change your existing passwords if it notices they are weak
  • You should be able to add a certain or unlimited number of devices to it (e.g., phone, tablet)
  • It needs to have a browser extension
  • It must have unlimited password storage
  • There have to be backup services
  • It needs to have auto-save and auto-change features
Tip 5: Go For Paid Memberships

Okay, free versions are good but are they really secure and worth it? With a free version, you’ll get some security and cheap access. But with a paid membership that doesn’t cost a lot, you’ll get better features and have more protection. For instance, most reputable password managers have an average fee of $2.50 per month and it is quite cheap (it costs less than your coffee). So, we would recommend going for the paid membership, but it is entirely your call.

Tip 6: Cost Isn’t A Big Deal

You can opt for a free version, but paying for the premium package comes with a lot of benefits. What we have noticed is that some of the most reputable password managers offer packages that can seem like a bit expensive, but they are not if take into account how much they cost per month. For instance, Dashlane’s premium package costs $59.88 per year (which is only $4.99 per month). So, you’ll be getting 1000x more protection of your passwords and peace of mind by spending a little amount.

Tip 7: Check If the Password Manager is User-Friendly   

The password manager needs to be user-friendly or else most people go back to their old habits of reusing passwords or creating weak passwords. Look for a password manager that has an intuitive interface so that you don’t spend hours to learn it.

The Bottom Line

From individuals to businesses to enterprises, everyone needs to use a password manager for added security of their confidential information. Following the tips mentioned above can surely help you choose the right password manager. We would recommend using Dashlane, 1Password, and RoboForm (please read our in-depth password manager reviews), but you’re welcome to do research on your own as well.

This article is provided by our team of content writers for informational purposes and should not be relied upon as a professional advice.

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