World Password Day highlights security trends, future shifts

World Password Day is being observed as an opportunity to highlight current password best practices and look toward future developments in password security.

"World Password Day is a great time to remind people about the importance of maintaining good password practices. Passwords are the most important line of defense for organizational and personal information, which means they are also a top target for threat actors," Randolph Barr, Chief Information Security Officer at Cequence, said. 

Barr underscored the need for unique and robust passwords for every account.

"The easiest way to keep attackers at bay is to make strong, unique passwords for each account. One of the most common attack tactics is a brute force attack, which is an authentication-related attack that takes advantage of people who use either generic or shared passwords. By exploiting this weakness, cybercriminals can gain access to an entire organization with one faulty password," he added.

He recommended using multi-factor authentication as an extra layer of security.

"Multi-factor authentication is an additional preventive measure that can help protect information; many banking and fintech enterprises make use of the safeguards it brings. Password managers are also helpful, as they store multiple passwords across separate accounts, all protected by one ultra-strong master password." he emphasizes. 

Barr noted, however, that the cybersecurity industry is increasingly considering alternatives to traditional passwords.

"While password hygiene and multi-factor authentication remain essential today, the cybersecurity community is clearly moving toward a passwordless future. Even the strongest passwords can be phished or exposed, which is why many Fortune 100 technology companies have transitioned large portions of their workforce to passwordless authentication using mobile authenticators, device-based login, and biometric verification."

He also referenced developments beyond the technology sector.

"Additionally, global financial institutions are enabling passkey support and app-based logins, while Fortune 500 retail and consumer platforms are deploying passwordless login options to reduce fraud and improve user experience."

Barr advised steps for organisations and individuals interested in these emerging methods.

"To prepare for this future, organizations should begin testing passwordless flows within internal environments, choosing identity platforms that support passkeys and FIDO2 standards. On the individual level, users can explore these capabilities already available in major devices and Android, Google, iOS and macOS (to name a few)."

World Password Day is intended to serve as a reminder to review and improve password practices as developments in authentication technology continue.