Are Developers Going to Eliminate the Password?

A lot is made about data breaches and hackers, but I think you’d be surprised to find out that over 80 percent of cyberattacks are the result of stolen authentication credentials. This has led many security-minded IT administrators to try and find a better way than the old username & password strategy that we’ve all been using for as long as there have been user accounts. One organization that is actively making waves trying to replace the username/password combo is Microsoft. They are at the forefront of the move to passwordless authentication.

What Exactly is Passwordless Authentication?

Instead of using passwords, you would effectively verify your identity through alternative means such as a verification app, a predefined security token, or even biometric information. These forms of authentication aren’t exactly new--most smartphones have a biometric authentication system onboard--but now they are beginning to become the predominant way that IT administrators set up their authentication systems. 

Why Is This Shift Happening?

Reduced Cost

You may be surprised, but passwords actually can cost a business a lot of money. A study by Forrester Research found that each password reset can cost a company $70. By using passwordless authentication, there are no passwords to reset, so these costs are completely eliminated. 

User Experience and Convenience

Every account you have has its own password. With more and more accounts being added each day, managing all the passwords that you need to remember can get difficult. Using methods that don’t require the need to remember passwords removes these challenges. 

Security

The main reason passwords are used is for security, but with so many hackers and scammers trying to get people to mistakenly give over their passwords through phishing attacks and other social engineering attempts, removing that possible vector can immediately make a computing network more secure.

Microsoft’s Approach to Security

For the past few years, Microsoft has been transitioning to a passwordless authentication system. In May, over 150 million users were utilizing some type of passwordless authentication, including 90 percent of the software giant’s 150,000 employees. Microsoft has gone on the record stating that it is saving 80 percent of the support costs that they had seen with password-fueled systems. 

At this point passwordless authentication seems to be a no-brainer. It is more secure, more affordable, better for the user, and far more manageable.

At k_Street Consulting, LLC, our IT experts can assist you in implementing passwordless authentication for your company. Give us a call to learn more at (202) 640-2737. Of course, if you do continue to use passwords, be sure you use strong passwords!