What is the purpose of AWS Secrets Manager?

AWS Secrets Manager is designed specifically to manage sensitive information such as API keys, passwords, and other credentials in a secure manner. Its primary function is to help organizations protect their access credentials, enabling them to easily rotate, manage, and retrieve secrets without hardcoding those values in application code, which can lead to security vulnerabilities.

By using Secrets Manager, users can securely store these sensitive credentials and automatically rotate them as needed, ensuring that applications have secure access without manual intervention. Additionally, this service integrates with other AWS services, further streamlining the management of secret information across an organization's cloud infrastructure.

The other options refer to functions that do not align with the primary purpose of AWS Secrets Manager. For example, storing backups of user data is not within the scope of Secrets Manager's functionality, nor is providing budgeting tools or data analysis services. These activities are typically addressed by other AWS services, such as AWS Backup for data backup or AWS Cost Explorer for cost management and optimization.