Digital transformation in all aspects of life and work means that more resources are becoming accessible online. The online availability of public and enterprise services provides numerous benefits to organizations and consumers. However, it also means these resources are subject to innumerable cybersecurity threats.
Password authentication systems have been the most prevalent means of protecting private information online, having been used for years to secure online digital assets. However, it’s become quite clear that passwords are insecure, and this method is no longer effective.
According to the Verizon 2020 Data Breach Investigations Report, 80% of breaches involve brute force attacks or the use of lost or stolen credentials. Passwords—especially those used to secure access to privileged work accounts and network resources—are threat actors’ most sought-after target.
The increase in data breaches and problems with password-only authentication systems have encouraged the IT industry to think about strengthening this authentication method or removing it entirely.
This article will discuss the disadvantages of password-only authentication systems, common attack techniques used to compromise passwords, and the most secure alternative solutions to replace password systems.