Encryption key management is the process of generating, exchanging and managing cryptographic keys to ensure the security of encrypted data.
Effective key management is crucial for all encryption methods. However, it is especially critical for symmetric encryption, which many experts see as less secure due to its single shared key and the need for secure key exchange.
If the encryption process functions as a safe for sensitive information, then an encryption key is the lock code required to open the safe. If that code falls into the wrong hands or gets intercepted, you risk losing access to your valuables or losing them to theft. Similarly, organizations that don’t properly manage their cryptographic keys can lose access to their encrypted data or expose themselves to data breaches.
For example, Microsoft recently disclosed that a China-backed hacking group stole a critical cryptographic key from its systems.1 This key allowed hackers to generate legitimate authentication tokens and access cloud-based Outlook email systems for 25 organizations, including multiple US government agencies.
To protect against attacks like these, organizations often invest in key management systems. These services are critical given that organizations frequently manage a complex network of cryptographic keys, and many threat actors know where to look for them.
Encryption key management solutions often include features like: