Passwords Are Failing

Written by Ketan Kapadia

Passwords were first introduced in 1960 in the computing world by Fernando Carbato, widely regarded as the father of the modern computer password. He introduced the concept of passwords for a Compatible Time-Sharing System (CTSS) so that users could only access their own specific files on a common mainframe with a single disk file.

Fast forward to 2020 we are still using this primary method to protect ourselves digitally. Users want easy, quick and secure authentication but passwords are no longer a secure solution, with compromised credentials being the top cause of reported data breaches, according to the 2019 Verizon Data Breach Investigations Report.

Malicious hackers have now become masters at attaining passwords and have a lot of powerful tools at their disposal that can crack through tens of millions of possible password combinations in a matter of seconds. This would be less of a problem if many service providers that hold sensitive data could protect this information, yet so often we see serious cases of security lapses exposing reams of sensitive data.

Neither customers nor businesses now see passwords as the ultimate guarantee for keeping data safe. Passwords don’t understand context and cannot provide proof that the user is who they say they are. Passwords alone can no longer be used to secure our sensitive data and stop malicious hackers to access or steal or sensitive data.

As the business landscape shifts with focus on digital transformation and we move further into a mobile-first world, the problem of password security becomes even trickier.

According to online portal Statista, by 2021 almost three billion people globally will be using smartphones for day-to-day digital interactions.Using a 60 year old technology of passwords to safeguard our data is no longer an option.

It is time for a paradigm shift in the way we access our secure data. It is time we adopt a password-free model for decentralized authentication that will keep our data safe from the malicious hackers.

Go Passwordless

Forget passwords for good.

Click Here

Browse All Categories

3 best practices to keep critical infrastructure secure from cyberthreats

Critical infrastructures have faced a barrage of cyberthreats in recent years, and operators now recognize that future attacks are a matter of ‘when’ rather than ‘if’. With 56% of the utilities network operators worldwide, reported at least one shutdown or operational data loss per year and 54% expected an attack in the coming year posses a major cyberthreat to energy and utility organizations. In this blog we explore 3 best practices that critical infrastructure sectors need to adopt to keep the malicious actors from a barrage cyberthreats.

3 Benefits of a Frictionless and Secure Digital Banking Experience

Over the past decade the banking and finance industry has experienced a monumental shift that brought both unique challenges and opportunities for institutions all over the world. Fast forward to today one thing is apparent – banks that choose to maintain the status quo simply will not be able to compete in a digitally accelerated landscape. In this blog we review the top 3 benefits of a frictionless and secure digital banking experience.

Is secure passwordless authentication really achievable in my industry?

Are you considering passwordless authentication; however, not sure if it is achievable?

If your business uses passwords, you should be considering a move to passwordless authentication. Not only is it achievable, it’s the future of information access.

Let’s explore how passwordless login can be achieved regardless of the industry / sector you are in.

Stay up-to-date with the latest news and updates

Join our newsletter

Keep in touch with us and stay up-to-date on how you can protect your and your organization from identity-based attacks.

Get 12,000 free logins.

No credit card required.

Start Today