Recently, password reset has been a troublesome issue in many industries. As users are now doing much of their work on the go, or wherever they happen to have network access, localization of password reset functionality is not always the most worthwhile solution. Users are increasingly seeking web based password manager solutions to reduce the weight of forgotten passwords, as well as the need to remember multiple passwords for various accounts. The frustration is real, and web based password manager solutions are rapidly becoming both a necessity and an expectation throughout almost any industry.
An online password manager is a website that securely stores login details. They are a web-based version of more conventional desktop-based password manager. Since they can generally be used on any computer with a web browser and a network connection, without having to install software, portability is one of the advantages of online password managers over desktop-based versions. The other one is reducing risk of losing passwords through theft from or damage to a single PC - also the same risk is present for the server that is used to store the users’ passwords on. In both cases this risk can be prevented by ensuring secure backups are taken.
The major disadvantages of online password managers are the requirements that the user trusts the hosting site and a keylogger is not on the computer they are using. With servers and the cloud being a focus of cyber attacks, how one authenticates into the online service and that the passwords stored there are encrypted with a user defined key are just as important. Again, users tend to circumvent security for convenience. Another important factor is whether one or two way encryption is used.
There are mixed solutions. Some online password management systems distribute their source code. It can be checked and installed separately. The use of a web-based password manager is an alternative to single sign-on techniques, such as OpenID or Microsoft's Microsoft account (previously Microsoft Wallet, Microsoft Passport, .NET Passport, Microsoft Passport Network, and Windows Live ID) scheme, or may serve as a stop-gap measure pending adoption of a better method.
You can choose a browser based password manager if you need one. But you still have another choice, installing one like ISunshare Windows Password Genius on your computer.