Passwords have been the primary method of authentication for over 60 years, yet they are often untrustworthy. Cybersecurity experts highlight that the reliance on passwords creates a binary access system where knowing a password grants full access, making it a significant vulnerability. This has led to a recognition among cybersecurity leaders that the current access control system is fundamentally broken.

Stolen credentials are a leading entry point for cyberattacks, accounting for a significant portion of breaches. According to IBM Security, credential manipulation and attacks based on compromised identities are a crisis, with phishing and data leaks being common methods for obtaining these credentials. In fact, they represent nearly 90% of assets for sale on the dark web, underscoring their value to cybercriminals.

There is a growing interest in moving towards passwordless authentication methods, such as biometrics and cryptographic techniques like FIDO2. These alternatives aim to provide higher levels of assurance and security. However, the transition is complicated by the fact that many critical systems may not support these newer technologies yet, making a complete shift challenging in the near term.