New password manager does away with master passwords once and for all

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JumpCloud has launched a new decentralized password manager that combines local and cloud storage to provide an additional layer of security to organizations. 

The company claims this approach minimizes the risk to data by syncing information stored on local devices with its own servers through end-to-end encryption. This is an unusual step for a password manager, which normally rely purely on cloud syncing (without encryption) and are protected by master passwords known only to individual users. 

Currently available in early access until Q4 2022, JumpCloud Password Manager also lets users share their passwords, two-factor authentication (2FA), and payment methods across their organization in a secure, controlled environment.

Password management innovations

As a result of JumpCloud acquiring MYKI in February 2022, the company’s new password management software will also provide a single ‘Open Directory Platform’, which will allow IT admin teams and managed service providers (MSPs) to securely manage devices, SSO logins and access across an organization from a single admin console. 

“It is exciting to see MYKI technology incorporated so quickly into the JumpCloud platform. This is a testament to the strength of the MYKI tech portfolio and innovation, and a great example of teamwork across development teams in many countries and states,” said Antoine Jebara, co-founder of MYKI and General Manager of MSP Products at JumpCloud.

JumpCloud claims that removing the human element of password management as a result of MYKI’s technology will increase organizational security, by reducing the number of targeted attacks on employees for the often memorable and personal master passwords that other business password managers use. The removal of master passwords will also reduce the risk and overheads involved with forgotten passwords and system lockouts.

The new release marks the latest step in JumpCloud’s push for a zero trust security policy across organizations, which involves identities, devices, networks, and even the location users log-in from having to be pre-approved and verified. 

This is certainly a unique development in cybersecurity, and a welcome one. Organizations convinced by JumpCloud’s approach to password management can learn more about JumpCloud Password Manager and its pricing structure before the official launch.

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