Crypto Glossary

Password Manager

A password manager is a tool or software that stores all sorts of passwords needed for online applications and services.

What Is a Password Manager?

With so many passwords to remember, plenty of savvy internet users have entrusted a password manager to secure and manage their passwords. A password manager is a time-saving tool that encrypts and stores a user’s passwords so that they can access their accounts when needed. Typically, a web browser may have a password manager already installed, but there are also password manager software programs that can be downloaded separately. 

The downside to password managers is that they can make one vulnerable to losing access to all of their accounts, so many password managers will require 2FA for additional safety. Unfortunately, if someone hacks or phishes the master key (the password to the password manager), the hacker can have access to all of a user’s login information.

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