If you are an Office 365 Home subscriber, you can share your subscription benefits with up to four people (besides yourself, that is) in your household. Actually friends too, but no one puts it that way since there’s Home in the name, you know.
When you share your Office 365 Home subscription, each person gets Office installs for PC, Mac, tablets, and smartphones, their own free 1 TB OneDrive storage, and 60 Skype minutes of calling per month to mobile phones in eight countries and to landlines in 60+ countries. People you share your Office 365 Home subscription with don't have access to your personal OneDrive storage, mind you, unless of course, you specifically share files or folders with them.
To share your subscription, you send the invitation to any email address or Facebook account, or send a link via another means. You can also directly add one of your Microsoft Family members without the need for an invitation. Once the person gets an invite, he or she will have to sign in with their own Microsoft account and use their own My Office Account page to install Office.
From your My Office Account page, you can find out who has installed Office on your shared subscription, and how many installs they're using. If all of your available installs are in use, you can deactivate an install on a specific device to free up an install for use on other device.
Of course, you can also remove someone from your subscription. When you do that, the user will lose all their subscription benefits, like extra OneDrive storage and the ability to use your Office installs.
Office 365 Home subscription offers great value that helps you share the benefits of Office 365 with other family members - on their different devices - without sharing your account credentials.