Despite the fact passwords are widely considered an unsecure means of accessing business applications, many organisations are still heavily reliant on the outdated login method.
This is according to the 2020 Thales Access Management Index, which states that almost a third of organisations in Europe and the Middle East still lean on passwords for access management and two thirds (67 percent) believe this reliance is here to stay.
According to the report, convenience and ease of use are the primary reasons passwords are used so widely among businesses. Employees are generally resistant to the introduction of security measures that increase friction and hamper productivity.
“Often, in an effort to adapt to the new working habits of users connecting from anywhere, which is increasingly pertinent right now and will become standard moving forward, businesses tend to revert back to old password-based logins for cloud services in despair," said Francois Lasnier, Vice President for Access Management Solutions at Thales.
"This is knowingly increasing their security exposure to credential stuffing and phishing attacks,” he noted.
However, the report indicates that change is on the horizon in the access management sphere.
Almost all (94 percent) organisations changed their security policies around access management in the last 12 months. Many have “increased their focus” on important factors such as training initiatives and raised spend on access management.