If you’re someone who doesn’t like using passwords, you’re not alone.
Most of us find passwords to be inconvenient, forgettable, and often not the best security solution.
The good news is that passwords are likely to become a thing of the past.
For a few websites, passwords will already be phased out in 2023.
Why Are Passwords Dying?
A passwordless future will become a reality eventually.
IT managers and security professionals have long been looking for better alternatives to password authentication.
Here are the reasons why.
Also, somebody can steal your passwords.
If you use a password manager, you may forget your master password.
And it can cause you tons of trouble to gain access to saved passwords in such a situation.
Selling of stolen passwords on the dark web proves that passwords are not a foolproof method of authentication.
High Cost
It takes time to create, enter, and reset passwords.
So, using passwords as an authentication method costs you money.
What’s more, hackers can use stolen passwords to steal data.
And,according to IBM, an average cost of a data breach is $4.24 million.
This is why most users hate passwords.
What’s worse, since people have to remember passwords, we tend to create weak ones.
Yes, using a password manager makes it easier to manage passwords.
But not all want to employ a password manager to manage passwords.
And what do you doif your password manager gets hacked?
So it is apparent that a powerful passwordless authentication method can improve user-experience.
What Is Replacing Passwords?
In the multi-factor authentication method, you often replace passwords with PINs or OTPs.
Other approaches can include biometrics, codes on authenticator apps, codes in emails, etc.
Though MFA can be secure, you must look out forMFA fatigue attacksto be on the safer side.
Biometric Authentication
Biometric authentication is the most reliable method to fight password fatigue and implement passwordless authentication.
Benefits of Passwordless Authentication
The key benefits of passwordless authentication are as follows.
Stronger Cybersecurity
Passwordless authentication prevents password-related cyberattacks such as brute force attacks or dictionary attacks.
What’s more, passwordless authentication methods are often phishing-resistant.
This is because users won’t be sending any login credentials via email or text to a hacker.
As a result, implementing passwordless authentication can strengthen cybersecurity in your company.
Enhanced Supply Chain Security
Many supply chain attacks make use of stolen passwords and credentials.
Seamless User-Experience
Passwordless logins offer a quick, convenient login experience.
With no need to come up with strong passwords and remember them, you canprevent password fatigue.
Users can access multiple accounts through passwordless authentication quickly and easily.
Improved Workforce Productivity
Creating and memorizing multiple passwords is a challenge.
And when someone forgets a password, resetting it takes time.
Instead, they will dedicate their time to productive tasks.
What Leading Tech Companies Are Doing
The world is moving towards passwordless logins.
Is It Time to Make Passwords Passe?
The human element is the weakest link in cybersecurity.
This is the reason why phishing attacks and social engineering attacks are so successful.
