1Password Announces Passwordless Authentication Add-on for Chrome, Firebox and Edge

Passwords are the weakest link of enterprise security. With a simple phishing or social engineering scam, a threat actor can collect a user’s credentials and gain access to protected information. That’s why password management providers want to move to passwordless authentication.

Only today, 1Password announced the launch of a new browser extension for Chrome, Firefox, Brave and Edge designed to help users automatically store, store and autofill logins across a range of third-party providers, so users don’t have to enter unique usernames and passwords to make.

Third-party providers supported by the extension include Google, Apple, Facebook, Twitter, Microsoft, Okta, and GitHub.

Ever since hybrid works has blurred the lines between employees’ work and personal lives, the new extension will provide employees with a potential solution to protect their online accounts from compromise.

Putting an end to credential theft for good

The release comes as credential theft continues to increase. A report of Digital Shadows discovered that there are 24 billion stolen usernames and passwords available on the dark web.

With such a large number of credentials being released on the dark web, it is clear that passwords are easily misused and ineffective at keeping out unauthorized users, driving demand for passwordless authentication solutions from technology vendors and the FIDO Alliance.

As part of this move, LastPass is using the browser extension to give users greater protection against account takeover attempts targeting business and personal apps.

“The new browser extensions feature we launched today supports the needs of enterprises to manage shadow IT and secure access to the apps and websites beyond the reach of IT teams on behalf of users and the organizations they serve. they work,” said Steve Won, chief product officer at 1Password. “Our new browser extension helps users take that guesswork out of the way by letting 1Password remember which third-party provider they signed up with and getting them to their destination faster.”

The extension reduces the risk of credential theft by allowing users to log in without using a password and simplifying the login experience.

The passwordless authentication market

1Password’s solution falls within passwordless authentication marketwhich researchers expect to grow from $6.6 billion in 2022 to $21.2 billion in 2027.

One of the main competitors of the organization in the market LastPassa password manager that offers passwordless login, allowing users to log in with LastPass Authenticator.

LogMeIn acquired LastPass for $110 million in October 2015 before winding up in 2021 after Elliot Management’s private equity arm and Franceso Partners bought the organization for $4.3 billion.

Another competitor is Bitwarden, an open-source password manager that allows users to store passwords and encrypt data with AES-256-bit encryption, salted hashing, and PBKDF2 SHA-256. Bitwarden recently announced that it has raised $100 million financing led by PSG.

According to Won, the main differentiator between 1Password and these competitors is its focus on people-centric and knowledge-free security.

“Information about our security architecture and relevant business processes are openly documented and we use a zero-knowledge security model, which means we don’t have access to private data stored in customers’ vaults,” said Won.