There was a 3-fold increase in identity theft and more than 2-fold increase in phishing attacks registered in 2020 compared to 2019 according to IC3 report. A whopping 50 – 81% of attacks (depending on who you read) are targeting both corporate and private sectors to steal users’ login credentials; that is, passwords. No matter what changes happen in data security, passwords remain the most wide-spread means of protection.

According to surveys, the average English-speaking consumer maintains around 27 online accounts. Memorizing 27 unique, cryptographically secure passwords is nearly impossible for a person one could reasonably call “average”. As a result, the average person tends to reuse passwords, which means that a single password (or its simple variations) can be used to protect multiple online accounts and services. The same passwords are very likely to be chosen to protect access to offline resources such as encrypted archives and documents. In fact, several independent researches published between 2012 and 2016 suggest that between 59 and 61 per cent of consumers reuse passwords.