One-time passwords (OTPs), commonly sent via text message, are a popular method for logging into apps and websites. However, cybersecurity experts are increasingly skeptical of their security, urging users to explore safer alternatives. Despite these concerns, OTPs are unlikely to disappear soon due to their widespread use and ease of implementation.
OTPs, especially those sent via SMS, are vulnerable to various attacks such as phishing, SIM swapping, and message interception. Tracy C. Kitten from Javelin Strategy & Research highlights that users may not immediately realize when their accounts are compromised, giving fraudsters a critical window to exploit.
To enhance security, experts recommend using authenticator apps like Google Authenticator or Microsoft Authenticator. These apps generate unique codes that expire quickly, adding an extra layer of security compared to SMS-based OTPs. While not foolproof, they are generally safer since the codes are stored on a user’s device, protected by passwords or biometric features.
Another method gaining popularity is mobile app push notifications. When logging into an account, users receive a prompt on their phones to verify their identity. This approach is more secure than SMS or authenticator apps, but still vulnerable if users are inattentive or overwhelmed by repeated verification requests.
For those seeking even stronger security, hardware security keys like Yubico offer a robust solution. These keys provide a high level of security but come with costs and practical limitations, making them less feasible for widespread consumer use.
The latest development in online security is the adoption of multi-device passkeys, which eliminate the need for traditional passwords. These passkeys use public key cryptography, making phishing attacks more challenging. While not a complete replacement for OTPs, passkeys significantly enhance security by removing passwords from the equation.
Despite the availability of these alternatives, OTPs via SMS are expected to remain in use. Dusty Anderson from Protiviti points out that many companies hesitate to transition away from SMS OTPs, fearing customer resistance, especially from those less familiar with newer technologies.
In summary, while OTPs via SMS are convenient and better than passwords alone, they are not the most secure option available. Users and companies alike are encouraged to explore more secure alternatives, keeping in mind that no method is entirely foolproof. As technology evolves, so too must our approaches to protecting online identities.
