Insights on World Password Day 2024
World Password Day reminds us of the critical vulnerabilities of relying solely on password-based authentication. Passwords are easily guessed, cracked, and reused across multiple accounts, making them a prime target for cybercriminals.
Traditional authentication methods like knowledge-based authentication and SMS-based two-factor authentication are no longer sufficient in protecting against increasingly sophisticated cyberattacks. To protect users in an increasingly connected world, organizations must adopt more robust and reliable methods of passwordless authentication.
Biometric authentication offers a more secure and intuitive experience, ultimately reducing the impact of hacks and online fraud. Smartphone users are well-acquainted with biometric authentication, which paves the way for businesses to introduce passwordless authentication alternatives. Using biometrics at account creation and on an ongoing basis not only offers better protection against account takeover fraud, but also eliminates the need to remember complex passwords and initiate password resets, which we all find annoying.
It also discourages password sharing, which can inadvertently lead to data breaches and more compromised accounts. In an age of artificial intelligence-assisted cyberattacks, World Password Day needs to become World Passwordless Day. The password has outlived its usefulness, and we need stronger ways of protecting ourselves online.
Stuart Wells,
chief technology officer, Jumio
