Enterprise password manager like LastPass has two key components:
Employees vaults
With LastPass Business, each employee is granted an encrypted personal password manager to create, store, and manage passwords and secure notes. Each vault includes all features of LastPass Premium personal plan, like the integrated password generator, cross-device and -browser sync, 256-bit AES encryption, and zero-knowledge security measures. Having individual vaults protects your business and employees from threats, and secures accounts not covered by your company's SSO.
Admin functionality
Business admins can access employees vaults, but they can manage who gets one, create authentication policies and best practices, and generate reports through the admin console. For example: you can create a user group, add to it a mandatory multifactor authentication for vault access, and provide this group with a set of shared credentials to certain apps and documents; the next time you delete or add a user to this group, they will automatically be given the credentials and access requirements they need.
Business admins can monitor password health within the organization, such as identifying weak and reused passwords, and track credentials leaked on the dark web. LastPass alerts admins and users of potential password threats or compromises so immediate action can be taken.
Admins can integrate LastPass with your existing user directory for automatic user provisioning, or you can choose to use LastPass as a user directory itself. The same goes for single sign-on (SSO): you can continue using your SSO service provider or use LastPass as an SSO provider.