Picking the right password manager for your business isn't an evident case. We try to help you out, with listing 3 of the best managers for passwords.
Let's dig in! The topics that we cover are:
Data residency, or the location your data is hosted on a server. The last years there has been an increase in the awareness of where users want to store their data. This is especially the case in Europe, where GDPR became a standard since 2018.
The decision of which password manager to choose comes also with the question where your data will be hosted. While Lastpass has their servers in the US and Hypervault stores data in Europe, 1Password has their data spread over Canada and Europe.
In core, there isn't much difference in the pricing between the 3 selected password vaults. However, there are some restrictions set by some of those managers:
Lastpass Teams charges every license for a year (€46,8), while 1Password does the same, but the minimum amount of licenses is 10, bringing the total price at €239,4 for a year. Hypervault on the other hand has a monthly (€4 per license) or a yearly (€39 per license) plan, with no minimum in the number of licenses.
The one that stands out is definitely Hypervault. Hypervault is considered more as a digital vault, ... with a password manager included. It's a versatile tool where you don't only store passwords, you can store keys, licenses, documents, and pretty much any other sensitive information. Together with custom fields and custom templates, Hypervault can be modified to work with and in every department of your company.
Lastpass and 1Password have a strong focus on passwords and other (personal) credentials. 1Password has abilities to store data in a few more data templates than Lastpass. Lastpass made an attempt to add custom templates, but it feels slow and outdated.
Lastpass was originally created for individual users, and this historical decision can still be felt in the usability today. Lastpass is still great for individuals, but for team usage, there are better solutions in the market.
Hypervault, for example, started from a business / team approach when they created their groundwork for the application. It lets you create teams and assign people to those teams. Sharing data with other team members is done with a few clicks.
1Password also originates for individuals, but they invested more in sharing credentials and a teamwork in the recent years.
1Password and Lastpass were founded originally in 2005 and 2008 and although they feel robust, visually they feel a bit outdated. Hypervault came to market in 2021 and they invested a lot in a modern look & feel.
If you're looking for a password manager for individual use, Lastpass might be your best option.
For teams, 1Password and Hypervault are the best in market, with the difference that Hypervault has more options to store different types of sensitive data, not just passwords.
Looking for other password manager alternatives? We made a comparison tool with the best known password vaults over here. Meanwhile, feel free to start a 14-day free trial of Hypervault. No credit card needed, and you can cancel any time.