How Big Tech is Working Towards a Password-Free Future

Whenever there is a big hack, we are often advised by security experts to not only stop using the same passwords but to stop memorizing passwords altogether and make use of password managers.

A 2019 research conducted by HYPR showed that 78% of people forgot their passwords and required a reset within the last 90 days. Passwords aren’t just difficult to manage, they are inconvenient, insecure, and expensive because passwords are just too easy to guess, hack or intercept and what’s more, the legacy of password reuse is leading to constant attack and account vulnerabilities.

Hackers try to get your passwords through different means, this is especially bad for people who use the same or similar passcodes, so when one account gets hacked their other accounts become vulnerable. Most data breaches originate from stolen passwords as bad passwords are one of the easiest ways to compromise a system, it could take seconds for a computer to go through the list of possible password combinations for someone who has a simple 8 character password.

Password managers

Whenever there is a big hack, we are often advised by security experts to not only stop using the same passwords but to stop memorizing passwords altogether and make use of password managers; software applications designed to store and manage your online credentials and make your accounts more secure by freeing the user from having to generate and remember sufficiently complex passwords, thus allowing for single-purpose passwords that meet a much higher level of security. 

Two Factor Authentication

Passwords have come a long way since its creation in the early 1960s with the inventions of new types of authentication like fingerprint scanners, face-scanning technology, and two-factor authentication.

Two-factor authentication has to do with using two forms of authentication, it deals with the combination of two of the three forms of authentication, which are;

1. What you know: your pin, username, password and even the answer to a security question
2. What you have: your sim card, mobile number, bank card, key card an access token/badge
3. Who you are: biometrics like facial recognition, fingerprint and iris scanning

Two-factor authentication is far more secure than passwords alone because it takes into account two forms of authentication rather than one. A common form of two-factor authentication is withdrawing money from an ATM; using your pin code and your bank card.

Other methods of two-factor authentication include using an authenticator app like Google authenticator or Microsoft authenticator, SMS Codes, and biometrics alongside your password for more secure verification, however, some forms of two-factor authentication are not as secure as others.

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