The Rise of Passkeys: Why They're Taking Over Online Security

Have you begun to notice the buzz around passkeys for securing your online accounts? You're not alone! A recent survey by the FIDO Alliance reveals that passkey awareness and adoption have skyrocketed since they first hit the scene two years ago.

In their latest Online Authentication Barometer, which is now in its fourth year, the FIDO Alliance teamed up with Sapio Research to conduct an extensive online survey in August, gathering insights from 10,000 consumers across several countries, including the US, UK, France, Germany, Australia, and more.

The findings are striking: 57% of respondents are now aware of passkeys, a significant jump from 39% in 2022. Meanwhile, the percentage of those unaware has dropped to just 16%, down from 28% the previous year. Among those who understand what passkeys are, an impressive 62% report using them to secure their digital accounts.

As the popularity of passkeys rises, traditional password usage appears to be on the decline. The survey notes that only 28% of respondents had manually entered a password in the last two months, a drop from 38% in 2022. This shift is particularly evident in various sectors, including financial services and social media platforms.

Darren Guccione, CEO and co-founder of Keeper Security, explains, 'Individuals are becoming more aware of passkeys and prioritizing their personal cybersecurity by increasingly integrating these secure methods into their daily routines.'

So, what exactly are passkeys? They utilize public key cryptography, wherein each passkey comprises a private key stored locally on the device that created it, alongside a public key kept with the service provider. This means that even if hackers acquire the public key, it’s essentially useless without the private key.

The superior security offered by passkeys is a key driving factor behind their increasing popularity. Most passkey systems employ biometric authentication, which is regarded as safer and less vulnerable to hacking compared to conventional passwords. In fact, 29% of survey participants identified biometrics as the most secure authentication method, while only 15% trusted complex passwords.

Interestingly, as consumers become more aware of the risks in the online landscape, their concerns about online scams have also escalated. Over half of the participants reported an increase in suspicious messages and scams this year, particularly through SMS, emails, and even social media platforms. These threats seem to be evolving, with many noting that they've witnessed a greater sophistication in these deceptive tactics.

FIDO Alliance CEO Andrew Shikiar emphasized the importance of transitioning to passkeys, stating, 'Excitingly, 20% of the world’s top 100 websites already support passkeys. As more brands educate themselves and streamline deployment, we’re urging them to make passkeys available for consumers.'

Given the rapid pace at which passkeys are being adopted, the shift towards a more secure online existence is anticipated to accelerate even further within the next year. As the digital landscape continues to evolve, embracing passkeys might just be the breakthrough we need to combat online threats effectively. Are you ready to ditch passwords for good? Don't get left behind!