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Password managers are an up and coming tool in the cyber security market. Using one of these tools such as LastPass is great because you only have to remember one password to open your account or vault as one company calls it. Once you create a vault you are able to securely store usernames and passwords to access any of your frequented sites. Once stored, these managers automatically input your login information for you so you no longer have to remember each time. Some of the password managers work on your desktop and your phone and can sync when adding or changing passwords.
Most companies value password managers because it helps them to safely store and track all passwords to manage employee permissions. Not having to keep a record of every employees password and update every time a change is made means less hassle, more control, and a password solution everyone is happy with.