Is the Future Passwords, or Passwordless Authentication?

When we think about staying secure online, passwords are often the first thing that come to mind. After all, we use them to login to just about every service, from our email inbox to social media platforms. However, new methods of authentication are transforming the way we access digital interfaces.

We all can empathize with the frustration of forgetting a password and having to reset it for the tenth time, and with experts advising unique, complex passwords for every account you hold, achieving both convenience and security can seem hopeless. Fortunately, tools like TeamPassword make striking this balance easy.

Of course, while using TeamPassword can help you consistently use (and remember) more secure passwords, what does the future hold? Are we moving towards passwordless authentication, or will they always play a role in our security?

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Table of Contents:

1. What Would Passwordless Mean for Users?
2. Do Businesses Need Passwordless Authentication?
3. Simplify Your Password Management

What Would Passwordless Mean for Users?

How much time would you save if you didn't have to remember and enter a password for every account you access? With the introduction of Touch ID, Face ID, and other authentication systems, everyday users have quickly backed the passwordless movement. Of course, while these methods work for consumers' personal devices, businesses require scaled up solutions that are much more complex.

As a business, the question really comes down to whether or not passwordless is feasible right now. For most, it's something their working towards — and it has a bigger business impact than some may think.

In the IT world, the pursuit of passwordless authentication means a lot. For starters, it implies increased security while, at the same time, greatly reducing the administrative work of IT professionals.

For those not in the IT world, just spend a moment considering how much time these professionals spend helping recover passwords, ensuring secure passwords, and other password management practices and protocols within their organization.

Since 2019, the amount of time professionals spend managing user passwords has increased by an astounding 25%. This represents a great deal of work hours being spent on critical but monotonous activity and being able to eliminate those tasks is the dream of many employees in the IT space. A password manager like TeamPassword can help save those countless hours.

Do Businesses Need Passwordless Authentication?

Almost 9 in 10 professionals in the IT world don't believe that the password as we know it will ever go away entirely. However, the same number of professionals agree that we need a combination of password management strategies and passwordless authentication to maintain security and simplify IT administration.

When implemented, passwordless authentication solutions result in fewer passwords being used or needed. That reduction can do wonders for simplifying the employee or user experience, and improve security at the same time. However, with passwords still engrained in most security practices, the right password management strategy is also essential.

If you ask employees, around 92% feel that their organization is on the road to a passwordless user experience. That alone shows the growing need for simple and secure authentication methods. Other factors, like an increasing number of people working from home, are also contributing to this need for more seamless, user-friendly security.

Simplify Your Password Management

Passwords aren't going away soon, so what can your business do in the meantime to help reduce friction, improve user compliance, and make managing secure passwords easier for everyone? As you move down the path towards passwordless authentication, you should be investing in modern tools. This helps your business both manage passwords as they are and puts you on the road to advanced authentication methods.

TeamPassword is the easiest, fastest, and most secure way to store and manage the passwords of all of your team members. No more spreadsheets or self-managed databases. With TeamPassword, login information is stored in the cloud where it's highly encrypted, ultra safe, and always in-sync.

Instead of allowing your users to figure out their own password management solutions, TeamPassword makes for a collaborative experience. Whereas other password managers are designed for personal use, TeamPassword was created with your business' needs in mind. By using it, you can keep your projects moving smoothly while protecting your assets in the process.

Interested in learning more about TeamPassword and how it can help your teams achieve simplified security? Start a free trial today and see for yourself what modern password management looks like.