Encryption Key Management

What is encryption key management?

In simple words, encryption key management is the process of handling and managing the unique encryption keys of an organization. Encryption keys are the secure gateways to prevent any threat or adversary to an organization’s crucial data and sensitive information. It encrypts (locks) the data and ensures only someone with the correct key can decrypt (unlock) it.

Encryption is the method of hiding information by converting human-readable texts into secret codes, also known as ciphertext. Encryption keys are random strings of numbers or letters generated using an algorithm to encrypt, decrypt, scramble, and unscramble data. There are two types of encryption, i.e., symmetric and asymmetric. Symmetric key encryption uses a single key for encryption and decryption and is used for efficiently encrypting large amounts of data. In comparison, asymmetric encryption requires two keys, a public key and a private key, for encryption. One key is used for decryption which is kept private, and the other is used for encryption and shared publicly.

Encryption key management is an essential process within the data encryption strategy in every organization that relies heavily on data and has a data-driven business model. It encompasses protecting, storing, organizing, and distributing encryption keys. The encryption key management software category on G2 has products with all essential features to cater to this need and help a business protect their sensitive data against vulnerabilities.

Encryption key management lifecycle

Encryption keys have a life cycle: they’re created, live useful lives, and are retired. The typical encryption key lifecycle is comprised of five major phases and likely includes the following phases:

• Key creation: The encryption key is created and stored with all its attributes (name, activation date, size, instance, rollover, mirroring, key access, etc.) on the key management server. The key can be activated automatically at the time of creation or manually later when needed. It is advisable to create a secure backup copy of the keys to retrieve them if they are lost while in use.
• Key deployment: Once the key is created with all its attributes, it is ready to be transitioned to the fully distributed state. It is the phase of deployment where the key is installed manually into the encryption environment. It is the most critical phase; hence, only authorized personnel should do it.
• Key activation: A key is fully operational in this phase. Once the deployment happens, the key management system (KMS) allows it to be retrieved by users and authorizes systems for encryption or decryption. A key can be directly transitioned from the creation phase to the active phase if it is created automatically without human intervention. 
• Key revocation: The KMS can inactivate or revoke a key to prevent its use. It may happen due to the limited life of the cryptographic key, if the system detects malicious behavior, or if an administrator leaves the company. It is the retirement phase of a key. The revoked key can be used to perform decryption but is no longer valid for encryption.
• Key deletion: In this stage, the admin can delete an inactive or revoked key from the storage database. To follow a secure key deletion process, it is necessary to do multiple reviews to check for any possible data loss or whether it has been appropriately archived. It should be re-encrypted with another key if it still has some data.

Benefits of using encryption key management

The fundamentals of encryption key management are based on protecting sensitive data against any breaches. Here are some benefits outlined of effective encryption key management:

• Privacy and security: With data security technology improving, encryption key management is becoming more crucial to keep the keys safe and secure. Only the rightful owner has access to these protected keys. This prevents hackers, internet service providers, and in some cases, governments from intercepting and reading sensitive data, protecting user privacy on the internet or any hardware devices.
• Reputation and integrity: It protects the reputation of the organization and the integrity of its data. Data is the new oil. If data is lost, stolen, or prone to vulnerability, it can ruin the whole business. However, if sensitive data is not protected due to poor infrastructure, it doesn’t leave any backup option to retrieve the stolen data. Encryption key management helps both in the protection and recovery of precious data.  
• Credibility:  Customer trust a company or a brand that act responsibly in protecting their information. While making payments at a store or an e-commerce website, customers are vulnerable to losing their credit card information if credit card encryption is not incorporated into the payment system. Encryption key management policies are always aligned with incorporating safety action and continue building trust with all stakeholders.

Encryption key management best practices

Every company that uses cryptography must follow some encryption key management best practices. These best practices ensure safety and compliance with the government rules regarding key management and maintain the security of cryptographic keys used to protect sensitive data.

To make encryption key management work, follow these best practices:

• Needful access and authority: The access to keys must be limited to role-based access controls (RBAC) in the organization to prevent internal threats or any kind of tampering with the keys. It should be provided only to do necessary duties and tasks. 
• Key size and algorithm: It is always advisable to refer to use cases to select the correct algorithm (symmetric algorithms and asymmetric algorithms) and method to create encryption keys. The key size also depends on security strength and the amount of data that needs to be handled using it.
• Timely key rotation: A key has a limitation regarding the amount of data encrypted through it. It should be rotated with a new key once it is not functional or when the crypto period expires. Using the same key opens the doors to vulnerability, and hackers can easily encode a weak key.
• Key backups and storage on HSMs: It is essential to make a secure backup copy of keys to prevent permanent loss of encrypted data in case of equipment failure or if the password is forgotten. Similarly, high-security modules (HSMs) like physical drives (CD, USB drive, etc.) can be used to store the key as HSMs provide the strongest form of security against any attack.
• Automation to reduce human errors: Automation must be used from the creation phase of the encryption key till its termination. Contrary to the manual process, automation reduces the chances of human error, improves processes throughout a key’s lifecycle, and saves a great amount of time.