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Escrow Passwords

Escrow Passwords definition

“Escrow Passwords” is like a digital vault, where cryptographic keys and passwords are kept securely. Usually, a trusted third party is involved. This third party is known as an escrow agent. “Escrow Passwords” has a simple but crucial purpose – to provide backup in any emergency. For instance, the original password or key is inaccessible, lost, forgotten, or destroyed. “Escrow Passwords” mechanisms make sense to large companies that want to encrypt large amounts of crucial information but not manage the keys.

See also: NordPass, Cybersecurity

“Escrow Passwords” use cases:

  • System recovery: In some scenarios, systems or devices can be protected by cryptographic keys or passwords. Still, authorized administrators or users cannot give the credentials, “Escrow Passwords” can provide the needed access to the system to perform recovery procedures.
  • Data encryption: Sometimes, the encryption key is needed to access encrypted information or data. In an unfortunate event, the encryption key can be lost, and information becomes inaccessible. “Escrow Passwords” can recover the encryption key from the escrow agent. That way, it’s possible to regain access to the encrypted data.