May 4th, World Password Day
May 4th is World Password Day, an annual reminder to everyone about the importance of password security. Passwords are the keys that keep our online accounts and information secure, but they are also one of the weakest links in our digital security. Every year, data breaches caused by weak or compromised passwords expose millions of sensitive records, making it crucial for individuals and businesses to take steps to protect their data and identities.
According to a report from Microsoft, poor password hygiene is responsible for 80% of all security breaches. Despite this, many people continue to use weak or easily guessable passwords, or they use the same password across multiple accounts. This makes it easy for cybercriminals to gain access to sensitive data.
Go passwordless and avoid data breaches
One solution to this problem is to go passwordless. Passwordless authentication eliminates the need for users to enter a password to access their accounts. Instead, users are authenticated using other factors, such as biometric data, security keys, or one-time passcodes. By eliminating passwords, passwordless authentication can significantly reduce the risk of data breaches caused by weak or stolen passwords.
A study by Ponemon Institute found that passwordless authentication can reduce the cost of a data breach by up to $2 million. This is because passwordless authentication eliminates the need for costly password management systems and reduces the risk of data breaches caused by compromised passwords.
Microsoft is one of the companies leading the charge toward passwordless authentication. In March 2021, Microsoft announced that its passwordless authentication solution, Azure Active Directory (AAD) Passwordless, is now generally available. AAD Passwordless allows users to sign into their Microsoft accounts using biometric data or a security key, eliminating the need for a password.
IDmelon Passwordless Orchestration Platform is the key
The best solution for going passwordless is through IDmelon Passwordless Orchestration Platform (IPOP). IDmelon is the first and only passwordless solution that turns any device you already own into a manageable FIDO2 security key, enhancing security with minimal costs, since you avoid buying hardware security keys. It also makes security keys manageable, so organizations can have full control over users, platforms and allowances.
It is deployed overnight, which saves time from leadership and makes things easier in a click. IDmelon, as a member of FIDO certified and Microsoft Intelligence Security Association, makes the authentication process still more secure and ideal to protect sensitive data, and simplifies the authentication journey for employees, customers and organizations in general.