The modern idea of a computer password was first introduced to computer science and the wider world in 1960. Since then we've learned quite a lot about how people interact with passwords, as well as how bad actors can use them to turn your own protective measures against you.
The best recent example I could reference would have to be the latest T-Mobile hack, in which a group of teenagers managed to infiltrate T-Mobile’s systems multiple times in March 2022 with stolen passwords. If a group of teens can access a 68 billion dollar company, steal their source code, and try to take over customers’ accounts by sim swapping, then we clearly have an issue. The main issue with passwords is the way people handle them. If everyone practiced proper cyber awareness then we would be in a much better place security wise, but sadly this is not the case. We are simple minded in the sense that we will use passwords relating to us for ease of access and remembrance. For example, 'Bob' has a daughter that plays softball, he uses her name and softball number for every single one of his passwords since it's easy for him to remember. Now all a hacker needs to do to access Bobs password is simply visit his Facebook profile and start running possible combinations through a multitude of different software.
Not only will employees use these simple passwords once, they tend to reuse them over and over again. Meaning if previously referenced 'Bob' had played a mobile game on his phone with the same email and password that he uses to log into the company portal, if that game gets breached and all of the logs get sold, Bobs company is put at a major security risk. This standard needs to change. Companies and employees alike need to start to act proactively to minimize the future damages this phenomena will inevitably cause. So if people can't secure themselves in this new age of technology, what do we do? Well 2-Factor authentication is a step in the right direction, but with techniques like sim-swapping still at an all time high in prevalence this is simply not enough. We need to take the human element out of passwords entirely. The best solution we could find for this glaring security flaw is a USB Key. Think of it like a car key, and believe it or not, the first cars actually didn't have keys. With a car key your vehicles security is transferred from having to keep watch over a whole entity to just simply having to watch over a device that you have on your person constantly. With a computer, the necessity for this is heightened massively. It's almost like someone having to ability to unlock your car and drive it around (with you still inside) fully anonymously. The transition into a world without a physical password is coming very soon. It increases peace of mind, security posture, and reduces time spent trying to remember complex password.