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We use the same principle between environments but make sure to use a different base password. That distinguisher also helps to prevent accidents such as deleting files in the wrong environment.
In some cases the password can be used to remind the person about what the server is for by using the first letter of whether it is production or uat and the first letter of the main purpose of the server.
Folder Backup
In addition to version control it is often useful to backup folders. Especially since we tend to build self-contained applications.
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