According to the results of a recent survey of 308 cyber security professionals, fully 91 percent of respondents believe the traditional password will not exist in 10 years.
The survey, commissioned by SecureAuth and conducted by Wakefield Research in November 2015, also found that 85 percent of respondents say employees frequently contact the help desk regarding forgotten passwords, and 37 percent say employees do so "all the time."
And while 97 percent of respondents believe new authentication techniques such as fingerprint scans or two-factor authentication are reliable, 81 percent feel that those authentication methods are prohibitively challenging to implement because they require the latest technology and software.
Still, approximately 66 percent of respondent already leverage authentication methods beyond passwords.
"This survey very clearly indicates there is an appetite for multi-factor authentication solutions beyond the traditional password," SecureAuth CEO Craig Lund said in a statement. "Advances in adaptive authentication have brought to market a number of options that help users stay both secure and productive by layering multiple methods, such as device recognition, analysis of the physical location of the user, or even by using behavioral biometrics to continually verify the true identity of the end user."
"Integrating these types of solutions may take a little time, and a redirection of budget -- but I'm hard-pressed to think of a worthwhile cybersecurity endeavor that doesn't," Lund added. "In this day and age, proactivity is much more important than reactivity."
Fully 59 percent of respondents said their company experienced a data breach in the previous 12 months -- and 95 percent said they expect their company to increase security spending in the coming year (among those respondents, 44 percent expect spending to increase by 20 percent or more).
Eight-seven percent of cyber professionals say their company is frequently forced to choose between user experience and improved security, though 62 percent of respondents acknowledged that managing the consequences of data breaches costs their companies more than protecting against them.
A recent Ping Identity survey of more than 1,000 U.S. enterprise employees found that almost half admitted reusing work-related passwords, and almost two thirds reuse passwords for personal accounts.
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