- A U.K.-based startup, Silicon:Safe, says its new hardware completely prevents password theft.
- The company's hardware solution uses a box to store passwords that cannot be accessed from the outside, though it can be queried to find whethor not the password is correct, according to a TechCrunch report.
- Thus far, Silicon:Safe has raised $1 million in seed funding from private investors.
Most passwords are still way too easy to guess. In January, security application provider SplashData released its annual list of the top 25 Worst Passwords. “123456” and “password” were still the most commonly used – a position they have held since the list was established in 2011.
Silicon:Safe's solution is specifically aimed at stopping bulk password theft, said co-founder and product designer Dr. Will Harwood.
“We’re very much about protecting the enterprise, making sure the enterprise cannot be blamed, if you like, for the username and passwords being stolen. Or certainly being stolen in bulk form,” Harwood told TechCrunch.
Silicon:Safe’s tech essentially treats passwords the same as encryption keys.
Four companies are currently testing the system, and Harwood says they eventually plan to release a SaaS-style version of the product to smaller businesses that cannot afford large hardware expenses.