Back in 2004, Bill Gates said people would rely less and less on passwords, because “they just don’t meet the challenge.” And really, passwords, the world’s most common way of authentication, have been becoming obsolete over the past decade or so. Judging from numerous security incidents we can say that passwords aren’t doing their job nearly as effectively as they should.
In order to maintain appropriate security standards that regulate the protection of companies’ assets and employees, enterprises should focus on implementing more secure authentication methods.
The biggest caveat with passwords is that they simply cannot ensure a proper level of sensitive data security anymore. No matter how strange it may appear, many employees write down the passwords for their work accounts on sticky notes and attach them to their monitor screens or keep them in the drawers. Workers send passwords in plaintext via email and chat tools. 25% of workers said they shared passwords when asked by a college.
There are numerous examples demonstrating that passwords are easy to steal. In 2017, the Imgur image hosting and sharing service fell victim to a massive password compromise due to weak security protocols. As a result, 1.7 million account credentials were leaked.
This year, researchers …