TL;DR: Passkeys reduce phishing exposure by replacing shared secrets with device-bound private keys, but the article notes that synced key protection, transport security, and user sharing still create edge cases, according to OneSpan. The security gain is real, yet regulated environments still need stronger device binding and careful assurance choices.
Editorial analysis by NHI Mgmt Group, based on content published by OneSpan: “Pros and cons of passkeys: Security benefits outweigh risks”.
Key questions
Q: What breaks when passkeys are treated as a full replacement for authentication assurance?
A: What breaks is the assumption that a phishing-resistant sign-in method automatically satisfies every access requirement.
Q: Why do synced passkeys create governance problems for corporate accounts?
A: Synced passkeys can escape the organisation’s control when they land in a personal cloud account that IT cannot inspect or revoke.
Q: How do teams decide whether passwordless is appropriate for a specific use case?
A: Judge it by the risk of the action, not by the convenience of the channel.
Practitioner guidance
- Define passkey assurance tiers Classify which applications can accept synced passkeys, which require device-bound passkeys, and which still need stronger step-up authentication for privileged or regulated actions.
- Map credential recovery paths Document who can restore a synced passkey, how the restore event is authorised, and whether that path satisfies your access policy for sensitive accounts.
- Separate routine and high-risk access Use passkeys for everyday sign-in, but keep transaction-specific controls in place for actions that change risk, privilege, or regulatory exposure.
Bottom line: Passkeys improve authentication by removing shared secrets, which materially weakens phishing and replay attacks against user sign-in.
Explore further
View Full Forum → | NHI Foundation Course → | Our Services → | Read the full analysis →
Passkeys change the attack surface by removing the reusable secret, not by making authentication magically complete. That distinction matters because password-centric controls were built around something an attacker could steal, replay, or phish. Once the secret disappears, the principal risk shifts to credential provisioning, recovery, and the assurance chain around the authenticator. Practitioners should stop evaluating passkeys as a password replacement only and start evaluating them as an authentication architecture change.
A question worth separating out:
Q: What is the difference between synced passkeys and device-bound passkeys?
A: Synced passkeys can move across a user’s devices through a cloud or ecosystem service, which improves convenience and recovery. Device-bound passkeys stay on the original device and usually provide tighter locality and stronger containment. The right choice depends on whether the business values portability more than device isolation and operational control.
👉 Read our full editorial: Passkeys strengthen authentication, but edge cases still matter