Google and other major tech companies are considering transitioning from using passwords to passkeys as a solution to reduce the risk of hacking. This decision is in response to the vulnerability of passwords, which has been detrimental to both consumers and businesses on a large scale.

Historically, cyberattacks have often targeted the hacking of email or bank account passwords. Many users tend to use the same password for multiple accounts, making it easier for hackers to access the password data of millions of users.

Research conducted by Cybersecurity Ventures indicates that global losses due to cybercrime will reach $8 trillion in 2023 and are estimated to increase to $10.5 trillion by 2025.

Kimberly Samra, Google's Security Communication Manager, stated that passkeys will gradually replace the use of passwords, and Google is enthusiastic about this transition. According to her, passkey is a safer and more user-friendly alternative to traditional passwords.

Passkey is a new mechanism that allows users to access applications and websites without entering a password. Instead, users can log in similarly to unlocking a device using their fingerprint or facial recognition, without the need for a PIN or password.

The advantage of passkeys is their strong resilience against cyberattacks, as they do not reveal a user's fingerprint or facial scan data. Kimberly Samra also emphasizes that passkeys are more secure than two-factor authentication, which has previously proven to be vulnerable to cyberattacks.

Google has made passkey the default login method for personal accounts, and similar changes have been adopted by Microsoft, Apple, and Amazon, who have also introduced passkeys for their websites and mobile applications.

However, Google also affirms that traditional passwords will not disappear soon because many people still rely on them.