Choosing the type of password storage varies from person to person. It all depends upon the personal belief of that person. It has been long argued which is a better password storage system. The local password storage is a better option for people who do not believe in Cloud Password Storage. On Cloud password storage, the user is fully dependent upon the service provider for the safety of its data.
If something were to happen, like any hacking, the user is helpless and can’t do anything to protect their data. The company itself will provide safety measures to protect your data. There was some breach which happened in the past which included companies like Microsoft, Dropbox, LinkedIn, etc. All this news made the people more skeptical about Cloud Password Storage because of the involvement of these big companies. So there’s another option i.e the Local Password Storage.
In local Password Storage, the user has the power to secure their data. The password is generated by the local password Storage company, but all the passwords are stored in a single place. It is known as the vault, where all the passwords are stored. A ‘Key’ is provided to the user and this ‘Key’ is the only way through which the vault can be opened. The company does not have access to this key and the only user has access to it.
So if any hacker, enters into the database of the password storage server, he won’t be able to steal any of your data. The reason being that your data will ask for the ‘key’ to open and it is not available online. It is stored in a single device and has no online credibility. Nothing can be seen or taken unless the person trying to access has the ‘key’. This is the greatest advantage of local password storage and that it is a much better option than cloud password storage.