Which hardware-based security solution is specifically designed to securely generate, store, and manage cryptographic keys for a wide variety of applications?
A Hardware Security Module (HSM) is a physical computing device that safeguards and manages digital keys, performs encryption and decryption functions for digital signatures, and provides strong authentication. HSMs are specifically designed for the secure generation, storage, and management of cryptographic keys, offering a higher level of security compared to software-based key management solutions. They are widely used in applications requiring high-level security, such as banking, government, and healthcare.