First, you need to understand what a key management system really is and where it is used and why it is important. Key management system is also known as management of cryptographic keys in a security system which are used for storing different information and even physical things as well. While using the word security, you should have understood why it is used but we will do the explaining in a new level. For example, you have a high-tech deposit box in a specific environment, and that is not just operated by any regular key but the person who owns it will have to enter a set of encrypted password, voice or retinal scan. And when the person enters the password the box then verifies it and opens it.
Getting to the next step, you must be questioning its functionality. Well, the key generation is done by using specific or certified hardware which gives random number or passwords. These generated keys information is tamper-resistant and if anyone tries the notification goes to the server and to the person. Some systems, just lock down the whole thing or change it instantly and send the new key to the server and the person. There are more than a hundred backups for each key to make sure that all the previous keys are stored and the current are never lost if the system is updating.
If the person forgets the key, the crypto system uses a set of logical code which is set by the developer or by the person himself/herself to recover the key. There are different keys for different users like there will be separate key for super admin, operator, manager or a security officer. Before using such high-tech and latest technology, one has to get knowledge about it as well and know all terms and conditions for it. And also make different contract with the service provider. Using this technology, the person will have low risk of enemy access control, guarantee of the security, key deletion with complete privacy and an audit log will be available at all times.