The death of the password has been rumored for years, but to this day it remains the primary way we identify ourselves online, with the average user now managing well over 100 accounts that require a password. Yet changing tides in the cybersecurity landscape, combined with evolving technology and consumer preferences, indicate that the end of the password era may finally be at hand.
Consumers Embrace Alternatives to Password Protection
In the wake of countless data breaches, consumers are becoming increasingly security-aware and open to changes in the way they identify themselves online. In a recent IBM Security study, respondents ranked security as their top priority over convenience when logging in to the majority of applications.
As options such as biometrics, multifactor authentication (MFA) and password managers become more advanced, consumers are already starting to move beyond password-only approaches and embrace a new future of identity. The IBM study found that fingerprint scans are seen as the most secure method of authentication. In addition, 67 percent of consumers are using biometric authentication today, while 87 percent said they’d be open to this technology in the future.
Millennials, currently the largest generation in the U.S. workforce, are at the forefront of driving these changes. With a stronger preference for convenience, younger generations are the most likely to embrace biometrics. They are also twice as likely as older generations (ages 55+) to use a password manager to lock down their accounts.
‘Today’ Takes a Closer Look at the Future of Identity
NBC’s Tom Costello recently joined IBM X-Force experts at the Cyber Range in Cambridge, Massachusetts, to discuss why password-only approaches are becoming obsolete and what the future may hold in terms of how we prove our identities online.
Check out the full “Today” segment, along with tips to protect yourself online: