An In-Depth Analysis of Password Managers and Two-Factor Authentication Tools

Passwords remain the primary authentication method in online services, a domain increasingly crucial in our digital age. However, passwords suffer from several well-documented security and usability issues. Addressing these concerns, password managers and two-factor authentication (2FA) have emerged as key solutions. This paper examines these methods with a focus on enhancing password security without compromising usability. Utilizing an adapted Bonneau et al. (IEEE S&P 2012) framework tailored to the specific challenges of password managers and 2FA. This allows us to categorize and evaluate prominent solutions from both academic research and industry practice, with a focus on their security, privacy, and usability. A crucial aspect of our study involves evaluating the effectiveness of a combined PM+2FA system in balancing security and usability. This study not only examines current trends but also suggests potential areas for future research, offering valuable insights to both users and developers in the evolving landscape of digital security.