Dynamic Cipher Key Management (DCKM) of the present invention enables the protection of sensitive electronic data by assigning symmetric or asymmetric cipher keys using a process that delivers the cipher key to a network endpoint device by means of a key installation, delivery, and storage methodology. DCKM may negate the need to physically touch the network device under protection. Further, DCKM's process is based on a set of operating principles that maintains the highest levels of assurance that the cipher key pairs are issued with only devices that have the right and authorization to create a secure communication path. The DCKM process realizes the same level of security confidence that is only achieved today with conventional token based key management services with respect to the paired devices linked via a cipher key public and private relationship.