I hate to say it but god damn if this is what you have to get a union to fight for in tech jobs, tech jobs need unions more than manual labor jobs, actually.
How this should be negotiated in any company. No employee can be held liable for any security breaches that ever take place, and we cannot be insured as NO ONE can/should ever know another user's credentials. If you are keeping track of keystrokes, you are recording every username and password...