What are the advantages and disadvantages of using key files for web authentication?

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Authentication
Password
We have a corporate web mail site (that uses PHP and MySQL) for specific users of our company who are working remotely with the web portal. Each user has a password and login. Now, I'm thinking about replacing using text passwords with a key file. Would this type of authentication be more secure than password typing? Thanks so much!
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Replacing text passwords with key files for user authentication can be a double-edged sword. You’ll need to examine the pros and cons of this security method to determine if it adequately addresses your network security needs.

Pros:

  • Passwords do not need to remembered
  • Need for multiple passwords is negated
  • Creates increased potential for secure encryption

Cons:

  • Key files could be compromised during data backup/storage
  • Accessing file keys can be challenging on some devices
  • Generating algorithms can consume network resources

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