Team members can have either Read Only or Read/Write permissions for the passwords in a Team. You can change these permissions from several contexts however the most direct way is from the Team Members dialog.
Select Connections from the sidebar menu.
Select the More Options menu next to the team you want to manage permissions for
Select Team Members from the menu.
Select the Permissions button next to the team member you change permissions for.
Select the permissions you want to assign.
When you have finished editing the teams permissions select Close to exit the dialog.