I just found out my company started using LastPass Enterprise for service accounts. (databases and web applications that our whole team needs access to) I immediately switched my team over to it because it seemed safer than the method we were previously using - storing all the passwords in an encrypted file and passing it by encrypted email or share folders. We quickly found out our company has disabled the password sharing feature of LastPass, which I thought was the whole reason to use it. Instead they created a single team account (with associated email address) and told us all the password use for logging into LastPass. OK, I guess that works but it makes me uneasy for some reason - at the very least it feels nonsensical doing this when LastPass can restrict sharing to within an organization or team.
Is our team sharing a single account and master password any less secure than using individual accounts?
Also kind of curious why a company might disable the sharing feature, but perhaps that's something only they can answer.