As a Gartner analyst that spends quite a bit of time focusing on identity and authentication (IAM); there is a lot to be said about passwords. I won’t spend any time highlighting all the joys (not!) about passwords.

You may have seen MFA in action when you try to log into your bank and you receive an access code on your smartphone that you must also enter to verify it’s really you who is logging in. While it’s an extra step, it becomes exponentially more difficult for bad guys to get access to your account, even if they have a password that was compromised in a breach or otherwise.