Passwordless authentication ushers in a new age in security. A large percentage of data breaches are caused by passwords that are incorrectly set. Furthermore, forgotten passwords cost businesses a lot of money since users are unable to access important apps.
While solutions like multi-factor authentication have helped to decrease cyber-attacks, passwordless architecture offers businesses huge potential to increase employee productivity while lowering the danger of data breaches. Organizations may implement passwordless solutions to better protect their networks, enhance employee user experience, and decrease application access problems with email addresses and password resets.
Passwordless architectures avoid this issue by combining strong authentication elements like biometric authentication (who you are) with hardware-based authentication (what you have). These extra layers of protection significantly minimize the chance of a data breach at your company. When compared to other cybersecurity solutions, true passwordless authentication provides an additional layer of protection at a very affordable cost to your organization’s security team.
Passwords were responsible for 80% of data breaches in 2019, and 59 percent of individuals admit to reusing passwords despite knowing it is bad for security. Passwordless authentication technologies enable businesses to enhance authentication into mission-critical technologies, increase security, and lower the expenses associated with lost passwords.
Eliminating passwords is no longer a strange concept. According to Microsoft, over 150 million user accounts now use authentication techniques that do not require passwords at all (including more than 90 percent of their own employees). Meanwhile, studies reveal that over 92 percent of businesses feel passwordless authentication methods are the way of the future when it comes to cybersecurity password management.
In spite of the massive investment in cybersecurity education and training, users still rely on outdated and insecure passwords for even their most sensitive accounts. The password 123456 is still the most commonly used password account to NordVPN at 2,543,285 uses. This password takes less than a second to crack and has been exposed 23,597,311 times.
Access management grants authentication to authorized users to access the specified services or applications while at the same time preventing access by non-authorized users. Access management is a vital part of any cybersecurity program.
Multi-Factor Authentication (MFA)
All organizations should implement multi-factor authentication to protect against the dangers of common attack vectors. Two-factor authentication requires devices and accounts to provide a second token before logging into secure platforms. This provides another layer of security for user accounts that may contain sensitive information. These security keys help reduce the risk of a cyber breach from unauthorized use on your organization.
Hardware tokens are a form of security protection tool, sometimes in the form of a smart card or key fob. These hold a certificate of a unique identifier used to gain access to secure devices, areas, or other information.
Password-based authentication becomes increasingly susceptible to account takeover and credential stuffing as more businesses add extra layers of protection and enhance their security posture. Because hackers choose simple targets, companies with weak security measures grow more susceptible as their competitors strengthen their security measures. Human error is always the weakest link in any cybersecurity program, and a strong passwordless authentication solution may significantly decrease the risk of human mistakes decreasing the attack surface.
Benefits of Passwordless Authentication
Touchstone Security firmly believes that the future of security involves frictionless, high-value security tools focused around strong authentication methods. Device-based authentication when coupled with biometric authentication provides users an easy, secure authentication experience without the many hassles of remembering hundreds of passwords across dozens of accounts. Our passwordless platform includes:
Hundreds of widely used enterprise apps may be easily integrated.
We don’t collect or utilize your PII since we employ Zero-Trust Technology.
Most common rules, such as GDPR, CCPA, and other data privacy and security legislation, are met.
Authentication method based on hardware.
Various levels of security depending on compliance and data security requirements.
Compatible with existing single sign-on (SSO) solutions.
Proof of Identity at a Low Cost – A solution that can be deployed in minutes to almost any environment.
Improved User Experience – Users no longer need to waste time resetting passwords when they expire or are forgotten.
Common Cyberattacks Used to Steal Security Passwords
Brute Force Attack – A brute force password attack uses automatically generated common password and username combinations to crack insecure accounts.
Credential Stuffing – Credential stuffing is the process of using passwords and usernames taken from one account to log into another. Unfortunately, this commonly used attack is very successful because people use the same information for multiple accounts.
Phishing – Phishing attackers impersonate trusted employees or other individuals to mislead a victim into responding with their password credentials.
Keylogging – Keyloggers are a form of malware installed on a device to capture keystrokes, eventually capturing usernames and passwords.
Man-in-the-middle attacks – A man-in-the-middle attack vector intercepts communications streams (for example, through public WiFi) and steals usernames and passwords.
Examples of Passwordless Authentication
Proximity badges, physical tokens, or USB devices (FIDO2-compliant keys)
Software tokens or certificates
Fingerprint, voice or facial recognition, or retina scanning
Mobile phone applications
Your Passwordless Authentication Solution
Touchstone Security provides organizations a passwordless authentication solution that integrates into their existing technology, rolls out in minutes, and is compliant with most regulations. We’re happy to provide a free quote to you for a true passwordless security solution.
Finding a cybersecurity solution that works for your business is tough. Most offerings on the market consist of a set of rebranded tools resold at exorbitant prices. Touchstone Security is different. We will work with you to create a flexible, streamlined cybersecurity program that integrates directly with your business and provides concrete, measurable security. Our team has experience designing, implementing, and managing cybersecurity programs for dozens of Fortune 500 companies, government agencies, and businesses around the world.