AWS Systems Manager Parameter Store is a service for storing and retrieving configuration, secrets, and parameters in a centralized location. It's simpler than Vault and AWS Secrets Manager, yet powerful enough for most teams. Store an API key, database password, feature flag, or JSON config blob. Retrieve it from any AWS service (EC2, Lambda, ECS, etc.) via SDK, encrypt/decrypt automatically, and audit all access via CloudTrail. Key distinction: Parameter Store is configuration-first, while Secrets Manager is secrets-first with rotation. In practice, most teams use Parameter Store for everything except high-rotation secrets (database credentials that change weekly).