By Jamie Bsales, Keypoint Intelligence

Given the fact that there are billions of user passwords for sale on the dark web at any given moment, there is no doubt that simple passwords are an insufficient defense against cybercrime. Ever since device and software passwords took hold in the technology landscape, technology users have been pining for a better alternative. Password managers, multifactor authentication (MFA), single sign-on (SSO) platforms—all of them try to add an additional layer of security, but often at the expense of usability.

Well, it seems that big tech companies are finally coalescing behind one alternative: passkeys. Simply put, a passkey is a stored cryptographic token (or “key”) associated with a given device or service. When you set up a new device or register for a service that supports passkeys, a public key is generated and shared with that service. But like a username, that public key is worthless to a hacker without the companion piece: in this case, an encrypted private key stored on the device. That private key can be unlocked by a biometric entry (typically fingerprint or facial recognition on smartphones) or by a PIN or key sequence. The external public key and device-resident private key communicate to prove you are who you say you are and grant access. Security is enhanced not only through the two-key requirement, but also thanks to the fact that the private key information is very difficult to hack.

Read the full article here.