Final answer:
A network hardware security module (HSM) does not perform the function of managing network devices, but it does encrypt network traffic, authenticate users, and monitor network traffic.
Step-by-step explanation:
A network hardware security module (HSM) does not typically perform the function of managing network devices. An HSM is a dedicated hardware device that provides cryptographic services to secure network communication. It encrypts network traffic to protect it from potential attackers and ensures the confidentiality and integrity of the data.
Additionally, an HSM performs the function of authenticating users by verifying their identities and granting access to authorized individuals. It also aids in monitoring network traffic to detect any suspicious activities or potential threats.