Feb 27, 2024 - Technology

Exclusive: Companies flock to passwordless tech

Sam Sabin

Illustration of an opened briefcase revealing glowing asterisks inside — Illustration: Annelise Capossela/Axios

Most companies plan to have their employees ditch passwords soon, according to a survey released Tuesday by LastPass and first shared with Axios.

Why it matters: Hackers increasingly rely on leaked login credentials and reused passwords to break into corporate networks.

Ditching phrase-based passwords for other login tools, like biometrics or authentication codes, could help crack down on the number of hacks.

By the numbers: 55% of organizations said they had a plan in place to move employees away from passwords.

Among those organizations, 32% said they plan to reduce password reliance in the next year and 54% plan to do so over the next two years.

The big picture: More websites are starting to support passwordless technologies for online accounts — making the transition away from phrase-based passwords possible.

Password managers, including those from LastPass, 1Password and others, can now store passwordless login keys.
And websites like Google, PayPal and other major sites now let users log in using a passkey.

Yes, but: Passwordless technology is still working out some of its friction.

Not all password managers or websites support passkeys or other passwordless logins yet.

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Exclusive: Companies flock to passwordless tech

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