A company with archived and encrypted data looks to archive the associated private keys needed for decryption. The keys should be externally archived and heavily guarded. Which option should the company use?

Key escrow

Explanation:

Encryption is a form of cryptography and typically involves the process of converting or encoding informations in plaintext into a code, known as a ciphertext. Once, an information or data has been encrypted it can only be accessed and deciphered by an authorized user. Some examples of encryption algorithms are 3DES, AES, RC4, RC5, and RSA.

A key escrow can be defined as a data security method of storing very essential cryptographic keys.

Simply stated, key escrow involves a user entrusting his or her cryptographic key to a third party for storage.

As a standard, each cryptographic key stored or kept in an escrow system are directly linked to the respective users and are encrypted in order to prevent breach, theft or unauthorized access.

Hence, the cryptographic keys kept in an escrow system are protected and would not be released to anyone other than the original user (owner).

In conclusion, the option which the company should use is a key escrow.