Death to one-time text codes: Passkeys are the new hotness in MFA

The report analyzes the growing adoption of phishing-resistant MFA—especially device-bound passkeys and hardware security keys—highlighting their security advantages over passwords and OTP-based methods, improved user sign-in success and speed, and reduced support and fraud costs. It notes rapid industry momentum (billions of passkeys in use), strong enterprise satisfaction, and remaining challenges around cross-ecosystem usability and social engineering against multi-device passkeys, emphasizing the balance between security and user experience for internal and customer-facing use cases.