In a survey conducted by KnowBe4 in January 2023, 106 people were asked about “Passwords vs. Passwordless”. The majority of respondents (61 percent) use two-factor authentication for online banking and 46 percent for online shopping.
Two-factor authentication
Respondents seem to have a lot of trust in this method of authentication, with well over half believing it to be secure and only around a quarter having concerns about security. It is interesting to note that around a third (34 percent) use a slightly modified password for different accounts and almost a third (32 percent) use a completely different password for each account.
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Two-step authentication (also called two-step verification or two-factor authentication) is an additional security measure to protect a user account. ( Continue reading )
The increasing importance of two-factor authentication is also reflected in the fact that there are many concerns about the basic security of classic passwords, no matter how complex they are. Only 30 percent consider complex passwords to be very secure, while almost a quarter (24 percent) don't know how to assess the situation. And almost a third of those surveyed (29 percent) consider even complex passwords to be rather insecure.
Finally, the survey asked participants their opinion on the future of passwords. There was actually a tie when it came to the question of whether classic identification via password would still exist in ten years. 42 percent answered this question in the affirmative, while 43 percent assume that passwords will become obsolete. What's exciting at this point is that around 40 percent see the use of passphrases instead of individual passwords as an alternative.
Source: KnowBe4
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