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Passwords protect our privacy but don't offer the most convenient experience. Tech giants like Apple, Google, and Microsoft show that there's a better alternative: passkeys.
They are a different form of login credentials, consisting of two interlocking parts. The first one is kept on a secure device like your smartphone. The second is shared with the website or app you have an account with. You need both components to log in successfully. When signing in, your device will use your biometrics to confirm your identity. The two parts will then create an authentication token.
Passkeys offer better security and are easier to use than passwords. More companies are standing behind passkeys in the hopes of creating a password-less future. Here's how businesses can benefit from passkeys:
Airtight Security
Passwords don't provide airtight security, even if you follow best practices. Hackers use various methods to access private data, including brute-force attacks. It is a trial-and-error hacking method that cracks passwords and other login credentials. Passkeys offer excellent protection against these security threats.
It is harder for hackers to gain access to sensitive data when you don't input a password. They can't use phishing schemes, brute-force attacks, or other methods to steal your personal information. They would need to be in physical possession of your device to hack into your account. With passkeys, businesses have better data protection.
Enhanced User Experience
Users have to manage various passwords to maintain their accounts. As their list of complicated passwords gets longer, their patience starts running out. That is the start of password fatigue. It is the overwhelming sense of stress and frustration from having to remember too many passwords.
With passkeys, your employees and customers don't have to create and remember complicated passwords. They can easily access their accounts without having to type anything. They also don't have to go through a tedious recovery process because they forgot their login credentials. Passkeys save time and effort, enhancing the user experience. It can lower drop-offs, boost customer satisfaction, and encourage brand loyalty.
Lower Costs
The traditional login method requires account lockouts, support calls, and password resets. Businesses have to spend considerable amounts of money on these features. Passkeys are easier on the budget and require less support and maintenance. They only need unique codes and biometrics to work. That allows businesses to save on valuable resources.
The Future of Passkeys
Passwords aren't going to disappear overnight. It will take time for websites to adopt passkey support. But we can expect passkeys to become the universal authentication method in the future. Passkeys offer several advantages over traditional passwords in strengthening business security, so business owners must be ready to make the switch.
