Key management encompasses the full lifecycle of cryptographic keys, including their generation, distribution, storage, rotation, and eventual destruction. Effective key management is fundamental to maintaining the confidentiality and integrity of encrypted data, as even the strongest encryption algorithm is rendered useless if its keys are poorly managed.
Organisations subject to standards such as ISO 27001 or PCI DSS must implement formal key management procedures. This includes using hardware security modules (HSMs) for key storage, enforcing key rotation schedules, and maintaining audit trails of all key-related operations to demonstrate compliance during assessments.