You may soon have another choice when it comes to a password manager. Earlier today, Dropbox uploaded a new app to the Play Store (via Android Police) called Dropbox Passwords. While anyone can download the app, you'll need an invite from the company before you can log in and use the software. Dropbox doesn't describe the app as a password manager, but all the hallmarks of one are there. You can use the service to store your passwords, as well as generate new ones when needed. With automatic syncing between different devices, Dropbox says you can access your creditenals anywhere.
Since we can't access the app, we can't say much more about its functionality. However, we've reached out to Dropbox for more information, and we'll update this article when we hear back from the company.
Should the app become available publicly, Dropbox will have entered another crowded market. There aren't companies the size of Google and Amazon in the space, but Dropbox will still have to go up against stiff competition. Between apps like 1Password, Dashlane and LastPass, to name only a few of the more popular options, everyone has their favorite password manager. Those products have also had a lot of time to mature into robust and feature-rich offerings. 1Password, for instance, not only nails the basics but includes functionality like two-factor authentication and a database lookup you can use to check if your passwords have been leaked.
That said, it's also an expansion that makes sense for Dropbox. Minus a hiccup in mid-2012, the company has a good track record of protecting user data. Since mid-March, Dropbox has also seen increases in both individual and business trial signups. Offering a complimentary service that integrates with its cloud storage product could be a good way to keep growing its business.