The news: Over 2 billion data records containing usernames and passwords were compromised in 2021, an increase of 35% from 2020, according to ForgeRock.
Why it’s worth watching: Compromised passwords continue to be the leading cause of security breaches and hacks.
ForgeRock’s Consumer Identity Breach Report reveals that compromised records include victim’s name, address, Social Security number (SSN), date of birth, protected health information (PHI), and payment or banking details.
A passwordless future: Industry giants Apple, Google, and Microsoft have committed to FIDO passkey technology, which lets users choose smartphones as their main authentication device, negating the need to ever enter passwords again.
What’s the catch? It may take time to get Big Tech companies on board to push the passwordless initiative. Any one company could stall the process by dictating its own standards and practices.
The good news is that the FIDO Alliance released guidelines for optimizing user experiences in June, so developers can prepare for the eventual launch.