Password Manager
A password manager stores unique passwords and recovery data in an encrypted vault. For Bitcoin holders, it protects the accounts around self-custody: email, exchange accounts, cloud storage, phone-provider logins, and wallet software accounts.
How It Works
A password manager creates and stores long random passwords so you do not have to memorize them. Each account gets its own password. If one site is breached, the attacker cannot reuse that password elsewhere.
For Bitcoin holders, the password manager protects the perimeter: email, exchange accounts, cloud accounts, mobile carrier logins, and any service that can reset something else. It does not protect seed words and should not store them.
Back up the vault recovery method. Print the emergency kit or recovery code if your manager provides one. Store it with important documents, not with your seed phrase.
Key Points
- Generates unique passwords for every account
- Protects against password reuse after website breaches
- Should be secured with a strong master password and security key
- Needs an offline recovery plan
- Should not store seed words or passphrases for cold storage