Passwords are a thing of the past. They are crucial for the clear user identification; however, they are not safe anymore.
A password is a factor of knowledge that can be lost. The implications may be just as serious as the loss of your keys. The password is therefore an insecure factor and should not be used as the sole characteristic of authentication.
The concept and method of authentication must be redefined with the primary goal of the highest possible security and, at the same time, ease of use for the user.