The Passwordless Future

Password security has been an integral component of many cybersecurity models as it protects data, online accounts, authorizes user access, and the list goes on. Over the years, passwords have been considered the first line of defense and have proven to be very effective in doing so. Nevertheless, as technology advances, more and more complexities are being introduced to the market, and password security is becoming increasingly challenging for businesses. In spite of the benefits passwords have for small-scale usage, today's cyberattacks are becoming so pervasive that password protection can simply just not keep up. With the modern era of technology, the entire security infrastructure is shifting towards robust architecture, and password security being the backbone of that infrastructure, can lead to businesses losing their security composure.

As far-fetched as it may seem, the passwordless framework is all about eliminating the password layer in user authentication and replacing it with something more secure and convenient. You may not be aware of it, but it's quite possible that you're already using this system in the form of OTP (One-Time Password), facial recognition, or fingerprints. Some other techniques that are used in place of passwords involve verifying user identity with something they possess.

Microsoft offers a completely password-less authentication system that verifies user identity through the Microsoft Hello app, Microsoft Authenticator, an OTP code, or email verification.

Other big tech companies have also adopted similar models, and this trend is gradually spreading to other parts of the industry as well. Google has already announced that password-less authentication is the future and will likely continue to grow rapidly in the near future.

What are the benefits of the password-less system, and what does it mean from both the enterprise and user perspectives?

Besides providing users with a smooth and convenient access, password-less systems offer enterprises cost-effective solutions and can potentially drive more sales through enhanced user experience.

Reduced Security Risks

Reduced Costs

While password security is a critical aspect of cybersecurity, it is not foolproof and has several shortcomings. Despite following best practices such as creating strong and unique passwords, regularly updating them, and enabling additional layers of security, passwords can still be vulnerable to cyber-attacks.

In order to counter growing password vulnerabilities, market researchers have introduced several techniques to enhance password capabilities, such as password managers.

However, these techniques also have some downsides. For example, it is already challenging to remember strong and complex passwords, and using passphrases instead of passwords can make it even more difficult to remember them. Similarly, using a password manager has the drawback of being a single point of failure. If an attacker gains access to your password manager, they can potentially gain access to all the locations and accounts stored inside. Down below are some further drawbacks of passwords

Human Nature

Attacker Nature

In addition to exploiting human weaknesses, attackers also have a variety of tools at their disposal. For example, they can use automated password-spraying techniques that allow them to try multiple possible passwords within a short span of time. Additionally, phishing techniques can be used to trick users into entering their login credentials on fake websites, which then steal their credentials. Once attackers gain access to user passwords, they can sell them on the dark web or use them for various malicious purposes.

All of these factors highlight the need for a framework that not only provides a higher level of security but is also convenient for end-users.

Staying up-to-date on the latest trends in password security is crucial for organizations to protect their assets and users from cyber-threats. Traditional password systems have shortcomings that not only make them a nuisance for users but also vulnerable to cyber-threats. The rise of password-less authentication systems offers a solution that enhances security and convenience for both users and enterprises. As a result, adopting a password-less system not only benefits users but also enterprises at the same time.

Talk to a Cybersecurity Trusted Advisor at IRM Consulting & Advisory