If I were running a business and had to share passwords and control access to things for multiple users, that’s probably what I’d do, but all I need is a synced password storage. Self-hosting a server’s probably overkill for that.

Also, isn’t the vault itself encrypted? You shouldn’t have to encrypt extra to do a backup.

I have been using BitWarden, and it’s pretty good, but I’m shifting over to Keepass now, syncing the database with syncthing. Means I don’t have to trust they won’t be breached, but it is definitely a bit more of a faff to get set up. For anyone unsure, I would definitely recommend a managed service like BitWarden though. I got my sister on it, who would probably have a single password for everything otherwise, and she got the hang of it super quick.