Exploring a Passwordless World: What Changes Could We Expect?

 

Solutions Review's Contributed Content Series brings together articles by thought leaders in enterprise software categories. Rohan Ramesh from Entrust explores the idea of a world without passwords and delves into the feasibility of achieving a passwordless future.

In our digital landscape, passwords are omnipresent, used for various purposes like logging into streaming services, social media platforms, or mobile banking. Despite their widespread use, 51 percent of consumers reset passwords monthly due to forgetfulness, with 74 percent showing a preference for biometrics. This reliance on passwords has led to bad habits, such as weak and reused passwords, resulting in compromised credentials and cybersecurity breaches.

Recognizing the challenges associated with password usage, the Cyber Safety Review Board has advocated for the elimination of passwords on a national scale. But what would a passwordless world look like, and how can businesses prepare for this shift?

Can We Really Go Passwordless? Elements of passwordless authentication are already part of our daily lives, with smartphones employing biometric features like fingerprint or face ID. Biometric authentication methods offer convenience and security, and consumers clearly prefer them. The benefits of passwordless authentication include:

1. Improved User Experience: Moving away from hard-to-remember and tedious passwords, passwordless authentication, combined with risk-based step-up authentication, ensures security without unnecessary friction. This approach prioritizes user-friendliness while maintaining a high level of security through high-assurance PKI certificate-based authentication.

2. Stronger Security: Passwordless authenticators that integrate biometrics with phishing-resistant authentication, such as digital certificates or cryptographic key pairs (via FIDO2 keys and passkeys), offer heightened security and protection against account takeover attacks.

3. Reduced Total Cost of Ownership: Eliminating passwords removes the time, money, and effort associated with constant password resets and potential breach costs. Relying on efficient and secure passwordless authentication methods, like certificate-based authentication, can save companies resources in the long run.

Business Considerations for a Passwordless Workplace

Businesses contemplating a shift to passwordless features should assess their existing methods and identify areas for improvement. Many organizations still rely on single-factor authentication or relatively weak multi-factor authentication with a heavy reliance on one-time passcodes. As consumers increasingly seek new digital verification methods, adopting high-assurance passwordless authentication can enhance security and user experience.

While passwordless authentication is an investment in security, deployment costs may vary based on an organization's user directory size and existing authentication mechanisms. The technology required for passwordless authentication might already be in use or necessitate new purchases. Adopting high-assurance passwordless authentication, including proximity detection and certificate-based authentication, can mitigate security threats and enhance the overall user and employee experience.

A passwordless future doesn't mean discarding all existing physical IDs. Physical IDs will continue to play a crucial role in identity verification, especially in a hybrid future. For instance, consumers can use a physical passport document for digital identity enrollment and online verification alongside a picture of their identity. Physical credentials can serve as part of identity verification processes, especially in out-of-policy authentication, high-value transactions, and privileged user access to critical systems.

A Passwordless Future

A true passwordless solution has the potential to enhance security, cut costs, and create a more positive experience for employees and consumers. As digital adoption rises and secure passwordless technology becomes more accessible, businesses can achieve control and convenience without compromising security.

Consumers are increasingly looking for new digital verification methods that allow secure sharing of identity credentials seamlessly and quickly. The concept of decentralized identity holds the promise of enabling consumers to share identity information selectively, reducing reliance on centralized third parties and passwords. This approach offers a more straightforward and secure daily verification method applicable across industries, including travel and online transactions.

With growing digital adoption and the ease of implementing secure passwordless technology, businesses can enjoy the desired control and convenience without sacrificing security in a passwordless future.

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