When designing passively magnetically stabilized rotor systems, introducing sufficient damping is key. We investigated two different dynamic systemswith one mass and two massesto determine their theoretical optimal behavior and how they can be realized considering real-world specifications and limitations. Based on dimensionless formulations of reduced dynamic systems, we present fundamental correlations between, and the optimal choice of, physical parameters. Furthermore, we compare the two systems in terms of feasibility and efficiency of different damping methods. Our investigations used an eddy current damper and viscoelastic damping elements as exemplary damping methods for the one-mass and two-mass systems, respectively. Passive stabilization was realized by means of permanent magnetic bearings. We found that the two-mass system is preferable due to the broader range of damping possibilities.