How to Safely Share Passwords within the Company


It is of the utmost importance that every company, no matter how big or small, keeps its confidential information and data secure. Luckily, something can be done to keep unwanted people from accessing privileged company data: crafting secure passwords. This means that your employees must keep their login credentials unique and private, and should avoid sharing their passwords with unauthorized parties.

But in the case of businesses and workplaces, project and client information might need to be shared among coworkers and staff in order to collaborate. And now that most of the active post-pandemic workforce is doing their jobs remotely, teamwork processes and workflows have evolved. However, if there is no remote work policy in place, the most commonplace thing, like sharing passwords, can represent a security risk for companies.

So, how can businesses and organizations overcome these cybersecurity and access-related hurdles? Here are some tips on how to safely share passwords with teammates in your workplace.safely share passwords

Establishing a Company-Wide Access and Identity Management Policy

As employees and workers leave organizations without having their access revoked, the risks of credentials being leaked are increased. To avoid this, company-wide access and identity management policies are required so the creation of login credentials in your system occurs in a regularized and controlled manner. A solid IAM configuration is key for safely providing access and assigning permissions and roles within the organization’s IT infrastructure. It also prevents low-level, unauthorized employees from accessing confidential data and resources from other departments.

Also, having a strong company-wide IAM allows IT managers the ability to create password policies for different user groups. The IAM system can be set up to ask employees and users to change their passwords regularly so they can safely access the resources their permissions levels allow. This helps employees know and better understand which resources are available to them according to their roles in the organization. 

And if your company’s IT admins (or you, the company owner) do not trust your users’ ability to create strong passwords themselves, an IAM can prevent them from even resetting their forgotten passwords. It is not the most common practice but restricting users from doing this can help keep your organization secure. By doing this, you or your System Admin have full control of the password management process. The chance for unauthorized access to private information and passwords will be significantly lessened. 

Buy and Use Enterprise-level Password Management Software

As sharing passwords is inevitable, this tool makes it safe for you to share work resources with your teammates and vice-versa. Therefore, having a password management system in place for your company is necessary to safeguard all the important client and account information that is confidential, like projects that are in the works or secret plans for diversification or expansion. 

There are many software tools available that can help your company with its password sanitation and management issues. Some of the popular ones are Keeper, 1Password, Dashlane, or Lastpass. These tools make the password management process extremely easy, secure, and convenient. Password management solutions are capable of generating random passwords, as well as saving, encrypting, and retrieving them when needed. 

The best part of these company-wide password management systems is that the admins and supervisors can track the sharing of passwords and confidential details. That way, businesses and organizations can control and monitor the password-sharing habits of their employees and avoid leakage of information outside the organization. 

Establish Company-Wide Password Management Policies

The most modern and data-driven organizations take their data security and privacy very seriously, which is why they craft password management policies to make sure employees and even customers change their passwords periodically. This might be the best part of using IAM identities and enterprise-level, company-wide password management software: you can attach password policies to them! 

You can easily and effectively implement your organization’s password management policies by crafting specific policies for each IAM group or role. However, you can effectively enforce company-wide policies with the help of password management software. This is an additional control method that mitigates security risks and reduces the possibility of embarrassing hacks that end up on the news. No company wants to see its users’ emails, passwords, and personal identifiable information on sale on the Dark Web!

Conclusion

When selecting a suitable password management system for company-wide implementation, few important things should be kept in mind. The password management system must be easy to use so that each employee of the company can use it well. Different admin policies and tools can be proposed and applied for improved password management processes. Password Management policies and tools work together so that user authentication rules can be assigned according to the roles or the groups to which they belong. 

This is why company-wide password management systems are vital: no individual is granted access to the accounts that are out of his/her role’s domain. This, believe it or not, is the most important part of a secure admin policy. Last but not least, password management software must be integrated to your company as part of a secure IT architecture. By doing this, you will keep your company’s most critical resources and confidential records safe from hackers.

Sharing of passwords within the company cannot be avoided but doing it in an insecure way, without IAM policies or password management tools, could cause security breaches within organizations. To avoid such circumstances, it is recommended to use a company-wide password management system on top of an expertly set IAM configuration. 



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