Learn All About Encryption Key Management Software

Do you remember the movie Kung Fu Panda in which Master Oogway, the wise turtle, selected Po, the clumsy giant panda, as the Dragon Warrior? Then you might also remember Master Shifu, who taught and trained the Furious Five (Masters Tigress, Monkey, Crane, Viper and Mantis) to face any odds. Well, there's a striking similarity between Master Shifu and Encryption Key Management Software. Perplexed? Allow us to elaborate!

Master Shifu handled the administration of duties, distribution of tasks and overall well-being of the Furious Five, each with different capabilities and efficiencies. Similarly, an Encryption Key Management Software takes care of the administration, distribution and well-being of encryption keys, each securing a unique set of data. Encryption keys are nothing but strings of bits that are exclusively created to scramble and unscramble critical business data. The best part is that each encryption key is unique – just as each of the Furious Five.

What are you waiting for? Come along with us as we’ll walk you through the past, present and future of Encryption Key Management Software – the Master Shifu your business needs!
 

Let’s Begin With What Is Encryption Key Management Software?

“There is always something more to learn, even for a master.”

Taking this wise advice from Po, let’s first learn about encryption. Data in the form of plaintext can be encrypted using an algorithm to create ciphertext. This refers to text that can only be decrypted and made legible if the person or application accessing the data has the necessary data encryption keys. The gist is that data encryption protects critical data from being stolen or accidentally leaked because it is indecipherable.

Encryption keys are random sequences of bits used to scramble and unscramble data. Every encryption key is created with algorithms to guarantee each key is unique and unpredictable. The longer the key, the more difficult it is to break the encryption code. An encryption key will encrypt, decrypt, or perform both actions when using encryption software.

Hence, data encryption keys must be controlled and maintained to make sure that business data is encrypted and can only be read by authorized people. If a cybercriminal obtains the encryption keys, he or she will be able to decrypt data and return it to its original unencrypted state. This is where Encryption Key Management Software comes into the picture. This software handles the storage, management and administration of encryption keys. IT teams and security administrators may distribute and manage encryption key access using these solutions and businesses can then maintain their encryption keys to mitigate risk from malicious third parties.

Learning is a never-ending process and Master Shifu knows this well. So, hold on to your seats; it’s time to learn about the history of Encryption Key Management Software.
 

History Of Encryption Key Management Software

The act of encrypting messages and their meaning to prevent others from seeing them is likely as old as writing itself. Encryption has a long history. Its use in ancient Egypt, Greek and Roman military culture, World War I, the advent of the first computer and its modern application in the internet age are all examples of its historical significance.

If we turn pages of history, we can see that text messages were encrypted using a technology that originated on the banks of the Tigris River over 3500 years ago. In the modern age, that is in 1917, Gilbert Vernam proposed a teleprinter cipher in which the plaintext message was encrypted by combining character by character with a previously prepared key stored on paper tape. With time, the need for encryption grew and in 1973, IBM created a block cipher to protect their customer data. More organizations started adopting encryption in multiple environments to safeguard their data. With encryption becoming more prevalent across enterprise applications, it became more difficult to manage keys from different enterprise applications. Thus, Encryption Key Management Software was invented.

Organizations soon realized the importance of Encryption Key Management Software and started adopting it. It is no hidden fact that the data is jeopardized if the key is hacked. Thus, Solutions like Encryption Key Management Software have gained popularity and will continue to do so, enhancing data security in any organization.


Let’s look at the present of the software and know it's working in the next section.
 

Working Of Encryption Key Management Software

In the Jade Palace, the place where Master Shifu and the Furious Five train, every warrior has a work routine. They get up, meditate, have breakfast, learn, practice their skills, have supper, practice their skills again, have dinner and sleep. #AndRepeat


Similarly, Encryption Key Management Software has a step-by-step working order that it repeats for any encryption key. Here it is:
 

• Step 1 – Select The Best Software

  There are many Encryption Key Management Software in the market; you decide to select the most appropriate for your organization.

• Step 2 – Launch The Software

  After installing the software, launch the software. After launching, the software will automatically scan for sensitive data, existing keys, etc.

• Step 3 – Upload And Encrypt The Data

  It then uploads and encrypts any confidential data on endpoints (computer/ mobile devices), corporate servers and/or public cloud providers. A new key may be generated by the tool to safeguard uploaded data.

• Step 4 – Share Your Data

  The last step is to share encrypted files, photos and videos through a public cloud provider and check if the encryption is up to standards. If not, longer keys can be generated.

We believe that the working of the software must be clear to you. It’s time to know its types in the following section.
 

Types Of Encryption Key Management Software

Here are the types of Encryption Key Management Software:
 

• On-Premises Encryption Key Management

  Some organizations choose to house their key management system on-site using a Hardware Security Module (HSM). Tamper-resistant or tamper-proof servers are used in these instances, which offer features like digital signatures, strong authentication and other cryptographic functions.

• Cloud-Based Encryption Key Management

  Some organizations require a system that can handle a large quantity of encryption key transactions and therefore require complex key management. A cloud-based Encryption Key Management Software can handle symmetric and asymmetric key management and work with a variety of databases, applications and standards. Bring Your Own Encryption (BYOE) and Bring Your Own Key (BYOK) strategies are similar to Bring Your Own Device (BYOD) security models, in which companies deploy their Encryption Key Management Software on public cloud infrastructure.

• Key Management As A Service

  Some cloud providers provide key management as a service for businesses in their cloud environments. This is basically a SaaS model for encryption key management.

Now that you know all the types, here are some of the benefits of Encryption Key Management Software – we know that’s what you’re waiting for!
 

Benefits Of Encryption Key Management Software

There are several benefits of Encryption Key Management Software. A few of them are listed below.
 

• Enhanced Security

  The foremost purpose of encryption is security. Encryption Key Management Software helps maintain secure encryption key management at large and remains accessible to satisfy corporate security requirements.

• Meeting Regulatory Compliance

  Certain highly regulated industries are bound by data protection regulations for storing and managing encryption keys. Companies can use Encryption Key Management Software to comply with PCI DSS 3.2.1, NIST 800-53 and NIST 800-57 requirements, among others.

• Better Scalability

  Today’s enterprises require Encryption Key Management Software that scales rapidly to generate, distribute and manage encryption keys to safeguard their data generated across numerous devices and applications. A large number of keys may be generated quickly as enterprises require low latency and high reliability for their keys.

Yes, that was awesome! Encryption Key Management Software has come a long way and we are sure its future, like that of the Dragon Warrior, will be bright and shiny!
 

Future Of Encryption Key Management Software

We expect that in the coming years, blockchain technology will take over encryption key management. The foremost benefit of blockchain is that it offers a secure, decentralized data exchange platform. Blockchain eliminates human error in data storage by automating the process. Furthermore, blockchain networks are difficult to hack, with blockchain technology data being decentralized, encrypted and cross-checked across numerous network nodes.

Additionally, homomorphic encryption, which allows computations to be done on encrypted data without a key, is just now becoming a reality. Without the key, data owners or a third party (such as a cloud provider) can process encrypted data without disclosing its values. The outcome is also encrypted and needs a key to access it. When applied with blockchain, homomorphic encryption might bring about a new era of agile, highly secure cybersecurity and encryption strategies. We cannot wait to see what’s in store!
 

Decrypting The Conclusion

Today’s threat landscape is similar to the time when Master Shifu started to train Po to become the Dragon Warrior. The volume and sophistication of cyber-attacks are increasing, coupled with the emergence of Artificial Intelligence (AI) and machine learning that exploits vulnerabilities faster than ever. Amidst all this, organizations are facing an unprecedented challenge to keep their data secure. Organizations need to implement Encryption Key Management Software to protect confidential data from external threats or insider leaks. These tools help enterprises manage keys securely while meeting compliance standards and other regulations related to Personally Identifiable Information (PII) and other sensitive user data.