As part of the 2023 Workforce Authentication Report, the FIDO Alliance and LastPass surveyed more than 1.000 IT leaders worldwide about passwordless authentication. The results show, among other things, that passwords will largely be replaced by secure alternatives in the coming years.
The most important step on this path is education, because user acceptance continues to be a challenge in some companies. Most IT managers (89 percent) think that by 2028, less than 25 percent of logins in their companies will be via passwords . 95 percent of those surveyed are already using passwordless alternatives such as passkeys. 93 percent believe that this allows them to reduce the use of shadow IT in the company, and 92 percent also said that this method increases security. 69 percent of IT managers plan to manage passkeys using third-party password managers.
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“Data breaches are largely due to the use of passwords. More and more companies are aware of this vulnerability and are therefore adopting passwordless authentication,” said Andrew Shikiar, Executive Director and CMO of the FIDO Alliance. “IT leaders around the world are currently pursuing an important goal: replacing outdated forms of authentication with user-friendly, phishing-resistant alternatives.” Despite security risks, many companies currently still offer passwords (76 percent) and multi-factor authentication (43 percent). Login method. 28 percent of IT leaders express concerns about user acceptance of passwordless alternatives. More than half of those surveyed (55 percent) would therefore like more information about how passwordless technology works and how it can be used.
“Companies know the benefits of a passwordless future – our survey made that clear. Password managers play a critical role in getting there for most,” said Mike Kosak, Senior Principal Intelligence Analyst at LastPass. “But education and promoting acceptance are also important factors when implementing passwordless login alternatives.”
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From enterprise password management to single sign-on to adaptive multi-factor authentication, LastPass gives businesses control and users seamless access. Millions of users worldwide rely on the password manager to organize and protect their online presence, and more than 100.000 companies already rely on LastPass password and identity management solutions.