The Best Password Security Apps for Small Businesses on a Budget: Secure Your Data Without Spending a Fortune

No matter how small or new your business might be, you can’t escape the ramifications of data security. Today, information is more valuable than money, which is why hackers increasingly target business databases rather than their financial accounts. If an attacker can get their hands on your customers’ personal and financial information, your business’s financial data, or trade secrets, they can leverage it to rake in money.

Sadly, small businesses are increasingly in hackers’ crosshairs, usually because they lack the budget and expertise to implement strong security protocols. Thankfully, a password security app can help reduce your risk profile.

The state of password security 

When you think of cybersecurity, do you picture phishing or DDoS attacks? Those certainly occur, but the most likely culprit in a data breach isn’t a direct attack. It’s a compromised password. Your passwords and those of your employees, are the most likely routes for attackers to gain access to sensitive data.

Consider these statistics:

• Employees reuse the same passwords around 13 times (LastPass)

• Over 60% of Americans use the same password for multiple accounts (Astra Security)

• “123456” is the most common password. “Password” is the fourth most common (Astra Security)

• 65% more passwords were compromised in 2022 than in 2020 (Digital Shadows)

• 60% of businesses polled by Bitwarden experienced a cyberattack (Bitwarden)

As you can see, password hygiene (not using passwords for more than one login, regularly changing passwords, and using hard-to-crack passwords) is essential. But who has the bandwidth to remember all those passwords? After all, writing them down is also a cybersecurity no-no that can lead to a data breach.

This is where password managers enter the picture. These apps provide you with a convenient way to associate passwords with apps and platforms, change them regularly, and ensure that they’re difficult to crack. However, choosing the right password manager can be more than a little daunting.

What to look for 

Shopping for a password security app? You’ll need to know how to compare your options. There’s a lot more than price that separates the best password security apps for small businesses on a budget. Let’s take a quick tour of what you’ll need to consider.

Security 

Just because an app promises to protect your passwords doesn’t mean it uses the highest level of encryption. Look for apps that use military-grade AES 256-bit encryption. Zero-knowledge architecture and live dark web monitoring are nice to have, too, but the encryption type is the most important consideration.

Compatibility 

You want a password security app that can manage and safeguard all of your passwords. That means you need to consider compatibility. Does the app play nicely with your existing technology stack? If not, it won’t do much to protect you (the app can’t protect a password if it isn’t compatible with the software). Look for apps that are compatible with your operating system (Linux, macOS, Windows), but also browsers like Chrome and Firefox, mobile operating systems like Android and iOS, and more.

Ease of use 

What’s the user experience like? How intuitive is the interface? It doesn’t really matter how robust the protection is if you and your team struggle to use the app. Look for a platform that’s easy to use, simple to navigate, and provides plenty of how-to information and walkthroughs.

Additional features 

The single most important thing to look for when choosing between the best password security apps for small businesses is the level of security offered. However, there are other features you’ll want to consider, too. How much storage does the app offer per person? Is there live support available? Does it feature a customizable security vault? Is there emergency password access available?

With that discussion out of the way, let’s take a closer look at the best password security apps for small businesses that won’t eat into your profitability.

If you want to add extra protection for your mission-critical services, from 24/7 live chat to phone answering and overflow calling solutions, reach out and let us know how the dedicated team of receptionists at Smith.ai can help.

Dashlane: Best overall

If you’re not familiar with the name, don’t worry. Dashlane is an excellent option for businesses looking for affordable password security and peace of mind. It has no known security breaches (unlike LastPass), and it uses military-grade encryption coupled with live dark web monitoring and zero-knowledge architecture. It gets high marks in terms of usability, and it’s compatible with all operating systems, mobile platforms, and most browsers.

You’ll find that business-focused plans start at just $8 per seat, which is great for solopreneurs. If you have 10 or fewer employees, you might want the Starter tier, which is $20 for up to 10 seats. You also get unlimited passwords, audit logs, and more.

• Free option? No, but there is a free trial available with the Premium plan (Personal plans)

• Price: $8 per seat or $20 for up to 10 seats

• Military-grade encryption

• Dark web insights

• Audit logs

• Unlimited passwords

Keeper: Best for overall security

Keeper Password Manager & Digital Vault is a solution that is designed to provide leading cybersecurity tools that will prevent data breaches and all kinds of cyber threats. The platform includes mobile access, too, along with an intuitive interface and confidentiality requirements that can be tailored to the needs of specific industries. It’s been ranked Editor’s Choice by PC Mag and a 2020 Enterprise Leader by G2.

Keeper comes in personal, educational, business, enterprise, and other versions, with each catering to the unique needs of the respective audiences. The business plan costs just $2 per month for each user, and it even comes with a free trial so that you can test drive it before you commit. You’ll enjoy shared team folders and unlimited device access.

• Free option? No, but there is a trial

• Price: $2 per user per month for the business version

• Security audit

• Encrypted vault storage for users

• Team management tools

• Two-factor authentication

Zoho Vault: Best for remote teams and shared accounts

If your teams are using shared accounts and working remotely, you are probably familiar with the Zoho family of products. Zoho Vault is their answer to password security apps and tools that will help you keep your information safe. It offers easy password importing, instant and real-time sharing, and reporting tools. You can even see who’s been using what passwords and integrate them in just minutes with the easy installation process.

Zoho Vault makes it easy to use via the browser extension, which all users can download and then have access to the shared vault of secure data and passwords. You can even manage users and keep an Active Directory of your users. If you upgrade to the enterprise package, you can be alerted whenever passwords are changed or accessed.

• Free option? Yes, free for personal use

• Price: $.90 per month for standard use, $4.50 per month for the Professional tier andreporting, and $7.20 for the Enterprise level

• Multiple levels of features

• Password management

• Detailed reporting

• User management permissions

• Easy integration via browser extension

• Import and export passwords

Bitwarden: Best for those seeking an open-source solution

Bitwarden is an open-source password security app that offers several advantages. It’s one of the most affordable on our list, for one. It also features end-to-end AES 256-bit encryption to safeguard your passwords. You can store an unlimited number of passwords on it, and you can also use it across an unlimited number of devices, which makes it a great choice for growing businesses.

Depending on your needs, you’ll find several different pricing/service tiers. Solopreneurs might benefit from the free personal plan. If you have 10 or fewer users, the Teams tier is the better option ($20 per month for up to 10 seats). You can also get a custom quote on your specific needs.

• Free option? Yes, but only for a personal account

• Price: $20 per month for up to 10 seats

• End-to-end 256-bit encryption

• Live support

• Event and audit logs

Passwork

Passwork is an open-source password security app that is designed for use on Android, iOS, Chrome, and Windows, as well as for the web. It is ideal for those who want to build their own custom password tool from open-source tools and applications, and it offers an affordable option without having to commit to a specific brand or its limitations. This password manager allows you to store tons of secure data, monitor passwords and accounts, and more.

With Passwork, you can also bring in temporary members for the team and manage access to certain passwords and data. You can even get a password history from the app that will show you which passwords have been used most recently. They’re able to be organized into groups and folders, and you can use storage features to set up auto-logins for your online accounts.

• Free option? No

• Price: $480 one-time fee (self-hosted) and up to 10 users

• Administrative controls

• Temporary team member option

• Open-source platform

• Multiple options for access

• Scalable platform

• Organizational tools

• Browser extensions available

LastPass: Best for ease of use

LastPass is a premium security tool that is designed to help provide password protection in several different ways. It includes browser operation and is available on multiple platforms. It also has dark web monitoring tools, two-factor authentication, and password inheritance features. Free users won’t have access to as many features, but it is a basic tool that gets the job done for those who need something simple.

LastPass offers secure sharing and has a password strength report so that you can keep tabs on everyone and make sure that your business is secure. It is also easy to use and has plenty of features that can be customized. Cloud-based access makes it scalable, and mobile access means you can manage and monitor your security on the go.

• Free option? Yes

• Price: $3 per month for Premium plan

• Digital record storage

• Dark web monitoring

• Simple sharing

• Automatic password storage for private devices

• Simple online shopping with form-fill capabilities

• Built-in password generator

Secure your passwords, then secure your mission-critical services with Smith.ai

Protecting your small business is more challenging today than ever before. Increasingly, attackers are seeking out small businesses because they’re often seen as easier targets with less robust protection in place than larger companies. A password security app can help provide plenty of protection and peace of mind.

And you also deserve peace of mind when it comes to your daily business operations. At Smith.ai, our virtual receptionists can ensure that you’re free to focus on what you do best while we ensure that you never miss a phone call again. We can also provide other important services to help streamline your office operations, including lead intake, appointment scheduling, and handling those after-hours calls. While you’re taking care of business, we take care of the rest.

Schedule your consultation now to discuss how we cancollaborate to create the perfect solution with our team of virtualreceptionists. You can reach us at hello@smith.ai or (650) 709-2947 for questions,as well.