Are Passkeys the future of Passwords? 

You may have seen our previous articles on the importance of strong Password Policies, MFA/2FA, Single Sign On and more. The importance of security with your online accounts is crucial, and the evolution of authentication methods has taken a significant leap forward in recent years with the introduction of newer technologies such as passkeys.

Passkeys are setting new standards for both user convenience and online security, offering a more secure alternative to traditional passwords and multi-factor authentication (MFA) methods. As businesses and individuals alike seek more robust protection against cyber threats, understanding the advantages and benefits of passkeys for your business security is crucial.

What are Passkeys?
Passkeys act as both a replacement for and a combination of passwords, multi-factor authentication, and biometric authentication, offering significant advantages to digital authentication.

They function as a type of cryptographic key that uniquely identifies and verifies a user without the need for memorising lengthy and complex passwords. Unlike traditional authentication methods, passkeys leverage a technology known as “public key cryptography," in which a private key is stored securely on the user's device, and a paired public key exists on an authentication server for the site that you are visiting. This method ensures that authentication can occur seamlessly and securely, without the private key ever leaving the device. The paring of these keys is then authorised through device biometric authentication (such as a face or finger scan) to authorise the login session. 

Advantages Over Passwords and MFA
The shift towards passkeys is driven by their significant advantages over traditional passwords and even multi-factor authentication methods: 

• Enhanced Security: Passkeys eliminate the risks associated with password theft, phishing to capture login data, and even brute force attacks. Since the private key is never transmitted or exposed, attackers are left with no way to be able to access the user's account. 
• Simplified User Experience: The challenge of remembering or managing complex passwords for every online service is often overcome by using password managers with their own passwords to store all your unique user data. Passkeys enable users to authenticate with just a click or a biometric check, streamlining the login process, password managers can even store these private Passkey tokens. 
• Reduced Friction in User Authentication: Unlike MFA, which often requires an additional device or token, passkeys simplify the process. Users no longer need to input a code from a text message, email, or authentication app, thereby enhancing convenience without compromising security. 

Business Benefits of Adopting Passkeys
The advantages of adopting passkeys in the business environment include heightened security throughout all your business accounts. 

• Decreased Support Costs: The common issue of password resets and account lockouts can significantly burden IT departments. Passkeys, are not only easier to manage but also easier to use, reducing overheads and allowing IT departments to focus on more business-critical tickets. 
• Improved Trust: By adopting a more secure and user-friendly authentication method, businesses are more likely to see wider adoption throughout the business and increased adoption of these tools for personal accounts. By ensuring that a business's user base stays secure from account-based attacks, businesses and brands alike can bolster customer confidence in their digital platforms. 
• Future-Proofing Security: As the cyber threat landscape evolves, adopting passkeys positions businesses at the forefront of security technology, ensuring they are better protected against emerging vulnerabilities. 

What are the disadvantages of Passkeys?
The only current disadvantage to businesses and end users alike, is that Passkey technology is still relatively new. While many of the leading online service providers have begun to implement this technology, not all have. It is important that businesses understand the advantages of Passkey technology over traditional password and multi-factor authentication methods, and, by doing so, make them more secure in the process. 

How can TwentyFour IT Services secure your business from account-based threats?
The transition from traditional passwords and MFAs to passkeys marks a significant milestone in the journey towards more secure and user-friendly digital authentication methods. By embracing passkeys, businesses can not only enhance their security posture but also improve the user experience, and we are here to help businesses improve their overall cyber security. As this technology continues to mature and gain adoption, it is important that businesses adopt newer and more secure technologies such as Passkeys over Passwords, EDR over Anti-Virus, Email Threat Detection over Spam Filtering, and much more. 

If you would like to find out more about Passkeys and how they can fit into your business security strategy fill out the form below. We will also provide you with a Vulnerability Report, Dark Web Report and work with you to ensure that your business has the processes and solutions in place to stay secure against the latest cyber threats.