The FIDO Alliance has released a public draft of new security standards that could someday make user passwords obsolete, Forbes reports. The FIDO Alliance, a security-minded industry consortium that includes Google, Netflix and PayPal, is drawing the support of major tech companies looking for login alternatives with greater security, which easing the authentication burden on consumers, who must create and manage passwords and credentials for the numerous sites they visit.

To minimize risk, two-factor authentication has become a necessity and is now generally being adopted. Two-factor authentication is the combination of two out of the three possible methods (something you know, something you have, something you are).