Consumers are not only worried about their own passwords, but how businesses are securing their online authentication. The Ponemon Institute recently conducted a survey on behalf of Nok Nok Labs and said that roughly half of people have been unable to complete an online transaction because of an authentication failure. The majority of these incidents occur because respondents forget their passwords, usernames or security questions.

“This study shows the challenge presented by our continued dependence on the troubled password,” said Phillip Dunkelberger, CEO of Nok Nok Labs. “Not only are breaches increasing because of password re-use across different web services, but this failure and insecurity is reducing consumer confidence when doing business online. It’s time we evolved our thinking about how businesses authenticate their customers.”

Certain businesses appear to be providing consumers more effective authentication protection than others. The survey found that the top five types of organizations with the greatest security in this regard are banking institutions, credit card and payment providers, retailers, internet service vendors and social media websites.

People no longer have to worry about remembering passwords for multiple accounts. In addition to being a nuisance, ineffective passwords can put consumers in a precarious position if they write this information down on a piece of paper or store these credentials on their mobile devices. Luckily, a password manager is the perfect solution to ensure safe browsing anywhere, regardless of location. The solution creates new passwords for a person’s various accounts using advanced algorithms.

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Effective security protection also crucial on mobile devices

The popularity of mobile gadgets like smartphones and tablets makes these devices a prime target of criminals and hackers alike. If these products fall into the wrong hands or are breached, consumers’ sensitive data may be compromised, placing greater emphasis on effective password security practices for owners.

An NQ Mobile survey found that many people are not protecting their mobile devices from potential harm. Overall, only 52 percent of consumers require a passcode to gain access to their gadgets. This finding is even more disheartening given the fact that a quarter of participants have lost or had their phones stolen. Since purchasing a new phone, 31 percent still do not require any authentication whatsoever.

“Consumers are entrusting their mobile devices with their most valuable information, and they seem aware of the problems that a loss or breach of security can cause,” said NQ Mobile CEO Conrad Edwards. “Still, we’re not seeing people taking the level of ACTION they should in order to protect themselves.”

The fact that consumers are neglecting proper authentication for their devices is especially troubling considering that so many store sensitive data on their phones. NQ Mobile found that nearly 70 percent of people have passwords, social networking accounts and banking information on their gadgets. Just as someone would update his or her PC with the latest protection, people should do the same with their mobile products, NQ Mobile suggested.

Owners of iPhones may be targeted more often by hackers and criminals moving forward, given the growing popularity of the Apple product. Consumers who want to improve their mobile security can also use a password manager for their iPhones, receiving protection for their accounts anywhere they access the internet.

Mobile phones used to be devices that could make phone calls and send text messages. In recent years, these products have emerged as mini computers, providing people access to all of their accounts on the go. Instead of neglecting security, people should do all they can to protect their devices from harm.