In the past, passwords were the key to accessing systems and platforms, and they held much value as a security measure for businesses. But over time, the threat landscape has evolved, and weaknesses have been discovered in standard encryption methods that have diminished the password’s value. In fact, recent research found that 73% of Americans lack confidence in the security of their passwords.
Regardless of how consumers feel about passwords, however, there’s a more significant issue at hand. And that is the fact that passwords provide zero authentication that the user entering the password is the actual owner of that account.