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Help Net Security
October 17, 2023
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ANTICIPATING THE BENEFITS OF A PASSWORDLESS TOMORROW



Businesses are actively moving to eradicate passwords from employees’ lives,
with 89% of IT leaders expecting passwords to represent less than a quarter of
their organization’s logins within five years or less, according to a FIDO
Alliance and LastPass report.




MOVING TO PASSWORDLESS TECHNOLOGY

 * Businesses are ready to embrace a passwordless future, with 92% having a plan
   to move to passwordless technology and 95% currently using a passwordless
   experience at their organization.
 * Businesses believe passkeys will help make them more secure: 92% believe
   passkeys will benefit their overall security posture, and 93% agree that
   passkeys will eventually help reduce the volume of unofficial (i.e., “Shadow
   IT”) applications.
 * However, many recognize that work still needs to be done: A majority of
   businesses surveyed are still using phishable authentication methods, such as
   passwords (76%) and multi-factor authentication (MFA) (43%) when it comes to
   authenticating users within their organization.
 * The majority recognize that this transition will take time and education: 55%
   of IT leaders surveyed feel they need more education on how passwordless
   technology works and/or how to deploy it, and 28% cited concerns that users
   may be resistant to change or using a new technology.
 * When making this transition, businesses made it clear they want to choose
   where they store passkeys, with 69% of IT leaders anticipating storing them
   in a third-party password manager.

“These survey results demonstrate that businesses are excited about the prospect
of a passwordless future, and all the benefits that future will bring. And the
clear majority also recognize that a password manager plays an important role in
that future,” said Mike Kosak, Senior Principal Intelligence Analyst at
LastPass.

“While the adoption of passwordless authentication will take some time and
coaching, LastPass is proud to support forward-thinking leaders like these on
that journey – ushering their organizations toward security that is stronger and
more effortless than ever,” Kosak concluded.





More about
 * authentication
 * cybersecurity
 * FIDO Alliance
 * LastPass
 * MFA
 * password manager
 * passwordless
 * passwords
 * report
 * shadow IT
 * survey

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