In the ever-evolving world of technology and cybersecurity, the importance of securing our digital presence cannot be overstated. One of the most prevalent methods we use, often without even realizing it, is two-factor authentication (2FA) or multi-factor authentication (MFA). These mechanisms have been subtly embedded into our daily lives, and their utilization traces back to times before they even had a name.
Understanding Multi-Factor Authentication
At the core of MFA are three central elements:
- something you have,
- something you are,
- and something you know.
When you can provide two of these elements, you're utilizing 2FA. When all three are involved, you've stepped into the realm of MFA. As an example, consider a routine trip to the ATM. Your debit card represents the "something you have", while your PIN serves as the "something you know". In today's digitally connected world, however, the 2FA most commonly used involves a phone. Here, the device embodies the "something you have" part, while your FaceID symbolizes the "something you are".
Understanding Two-Factor Authentication
Within the broader umbrella of 2FA, there exist two distinct subcategories: software token-based authentication and hardware token-based authentication.The software token approach is commonly seen in the form of authentication apps, which have permeated our digital landscape. These include popular options like Google Authenticator, Microsoft Authenticator, LastPass, and Authy. On the other hand, a hardware token often takes the form of a key fob or USB-like device that can be inserted into, or scanned by a device. One of the most renowned hardware tokens is YubiKey. Both types significantly bolster your security, but the hardware token, as we'll explore, has a distinct edge.
The Vulnerability of Software-Based 2FA
Software-based 2FA, although helpful, has a glaring vulnerability: susceptibility to phishing attacks. A few years ago, we saw the emergence of SIM swapping, a technique where a threat actor transfers a phone number to their own device, gaining access to the associated text messages. This empowered cybercriminals to access accounts protected by software 2FA that sent access codes via SMS.This access to your phone's messages effectively grants them carte blanche to accounts protected by software 2FA, a frightening scenario considering the original perceived security of SMS-based 2FA.
Empowering Security with Hardware-Based 2FA
In contrast, hardware-based 2FA operates in a fundamentally different manner. Access can only be granted if the physical token is present. YubiKey represents a U2F (Universal Two-Factor) security key, which greatly simplifies the 2FA process. Each YubiKey device is embedded with a unique key through public-key encryption. Although integrating a YubiKey into your security set-up can be somewhat tedious, given that it needs to be registered for each website or application individually, the benefits outweigh the initial effort. The key confirms the authenticity of the website and securely stores the secret key on the server. Consequently, when you log in, the server reconstructs the secret key, enhancing security.
Seeing your YubiKey in action.
Let’s explore how the YubiKey works in practice:
- After you enter your username and password with the YubiKey inserted in your device, the server identifies that a security token is associated with the account.
- The server then sends two pieces of information back to the YubiKey: an AppID and the secret key created during the registration.
- Once the browser prompts you to touch the YubiKey for authentication, the YubiKey collects the information from the server and replicates the key generated during registration.
- If the keys match, you're granted access.
This process ensures that even if a website is malicious, it can't authenticate because the data created during the YubiKey registration does not belong to that specific server, effectively denying access. It's no surprise, then, that numerous organizations have seen a significant reduction in phishing attacks after incorporating YubiKeys.
Balancing Risk and Reward
When deciding on a cybersecurity approach, the question often boils down to a balancing act between risk and reward. Implementing YubiKeys into your organization's security protocol may entail a cost, but this pales in comparison to the potential financial and reputational damage of a security breach. In this context, offering your organization an almost non-existent window of vulnerability to phishing attacks isn't merely a smart choice—it's priceless.
Exploring SafeBase's Role in Building Customer Trust
If you'd like to learn more about how SafeBase can help your security-forward organization build and maintain customer trust, contact us for a platform demo today.
