Why is there no central ‘vault’ in which to store all of the employee passwords across the enterprise?

In RoboForm Enterprise, storage of all passwords is purposefully de-centralized. Keeping all passwords in one centralized database poses a security risk in that if someone could break into this database, they would essentially have "the keys to the kingdom" since they would now have access to every user's passwords.

The flexible and distributed architecture of RoboForm Enterprise with Passcards securely stored on employees’ computers ensures that in the unlikely event of a breach, a hacker could not compromise an enterprise’s entire password storehouse.