A password manager is a software application that is used to store and manage the passwords that a user has for various online accounts and security features. Password managers store the passwords in an encrypted format and provide secure access to all the password information with the help of a master password. They encrypt your password database with a master password which is the only one you have to remember.

It’s essentially a security vault, but for passwords.

Using a password manager is probably top 10 in Cybersecurity 101. Password managers guarantee that you do not reuse any password in more than a single website.

Although you may rely on your browser’s password manager for this role, research has shown that they are not built for this. Storing your passwords with your default browser is more a matter of convenience than safety. It is not necessarily safe. However,  you may automatically access all your passwords by logging into another device onto the same browser with ease. There isn’t a lot of transparency as to how these browsers encrypt your data. On the other hand, password managers are specifically built for this purpose.

Resource: 

Sorry, But Your Browser Password Manager Probably Isn’t Enough

Pros

• You only have to remember one password
• Every single password you use will be unique

Cons

• If you forget/lose the master password, you lose everything

Password Managers You Can Try:

• LastPass: LastPass is a secure user friendly and good free plan password manager. It allows you to store unlimited passwords (on unlimited devices) and share unlimited passwords on the devices- for the same user. I have always used it for the past 1.5 years. I love the interface and the fact that it allows fingerprint login on my phone. You can group your passwords into categories, add credit cards and more.
• Other options:
  • 1password
  • Bitwarden
  • Dash lane
  • Keeper

Resource:

  10 Best Password Managers for 2021 [with Exclusive Deals + Coupons]