(NewsNation) — Apple, Google and Microsoft on Thursday announced plans to eliminate passwords and replace them with other secure sign-in methods.

The announcement came just ahead of World Password Day, celebrated annually on the first Thursday in May. It highlights the use of strong password habits, but some big tech companies claim that password-only authentication is one of the biggest security issues on the web.

“Fundamentally, what we’re doing is enabling you to use your everyday device – the same thing you do many times a day – to unlock your device now to log in, in a way that’s fair leaps and bounds more secure than anything you do today,” said Megan Shamas, spokeswoman for FIDO, the authentication company leading the charge.

Together, Apple, Google and Microsoft plan to follow a standard created by the FIDO Alliance and the World Wide Web Consortium. That means websites and apps could offer an “end-to-end passwordless option,” according to a press release. Users would log in with the same method they use many times a day to unlock their devices, such as a simple fingerprint or face verification, or a device PIN.

Without passwords, users would no longer need to store their personal information on a remote server. Rather, their private data would be safe on their device. The approach protects against phishing and makes the login process overall more secure, according to the release.

Microsoft estimates that there are 921 password attacks per second. An average data breach costs a business over $4 million. They are also becoming more common, increasing by 68% from 2020 to 2021.

“Whatever you use to unlock your device, whether it’s a face or a fingerprint, a pattern or a pin, you can then use it to log in on all your devices. , and this data remains private to you. And most importantly… it totally eliminates the need for a password,” Shamas said.

Many platforms already use passwordless login methods, but the recently announced partnership will make it more mainstream.

The change won’t be immediate, but FIDO expects a much more passwordless internet by 2023.