

Most commercial password managers support cross-platform, cross-browser synchronization, integration with directory services, and secure encrypted credential sharing – giving employees a safe way to exchange passwords, credit card details, and other sensitive information.

When businesses implement a password manager, they can also enforce password policies requiring the use of strong, unique passwords for each account. Research has shown that many employees use weak passwords because they are more memorable, re-use passwords across multiple sites to save having to remember multiple passwords, store login credentials in unprotected documents and spreadsheets, and share passwords via unsecure channels of communication such as email, SMS, and chat services.

How login credentials are created, saved, and shared between teams can have an impact on any business´s online security. Again, there is no distinction between whether password managers for MSPs are being used exclusively within the MSP businesses or if MSPs are also providing “password-management-as-a-service” to clients, but let´s start with how password managers for MSPs protect MSP businesses. The inclusion of the word “now” in the statement is revealing inasmuch as it implies fewer than half of MSPs were using password management tools previously. While it could be assumed clients may be easier targets due to a lack of security expertise, it is noticeable the report states “more than half are now using password management and multi-factor authentication tools “ One statistic missing from Datto´s State of the Channel report is the percentage of cyberattacks attributable to MSP susceptibility compared to the percentage of cyberattacks attributable to client susceptibility. How Password Managers for MSPs Protect MSPs All of these reasons could be prevented – or substantially mitigated – by implementing a password manager for MSPs. 24% of respondents said weak passwords and poor credential management was to blame.Īmong other responses to the survey (multiple answers were allowed) lost and stolen user credentials, a lack of funding for IT security, and a lack of executive buy-in for adopting security solutions were given as reasons for successful cyberattacks.

