In the beginning, you could set your password to be 1234 and it was still secure enough. No one really had the wherewithal to crack any passwords on the Internet. And then, they began to tell you to use a combination of letters and numbers and special characters. Then they said that you had to change your password every so often. As the hackers learned better and better tricks, you just needed to jump through more hoops to get to any online account. Two factor authentication and multifactor authentication are the latest.
Let's say that someone who doesn't mean well, learns your password to Facebook; What do they They just goes into your Facebook account and send nasty messages to everyone on your Friends list. It would be nice wouldn't it if there was more than one thing that stood between this evildoer and your Facebook account? That's where multifactor authentication comes in.
Let's start with two factor authentication. You are already quite familiar with this. What do you do when you use your Internet banking account? Certainly, you do need to key in a password to get in. Once you do this though, you can't just initiate a money transfer just like that. If you try to do it in an unusual way, the website will send a special password to your cell phone and ask you to key that in. Using the website depends on two different things your knowledge of the password and your possession of your phone. It's the same thing with with your ATM card and the PIN it's two factor authentication.
They probably use multifactor authentication in the company you work for. You need to swipe the card, key in a number, and perhaps also put your thumb print in in the office computer.
If you are a business and you need to deploy multifactor authentication, you'll probably need to buy a system that involves giving each employee a hardware password generator, and install equipment that recognizes these passwords at every turn. Is it worth it? You could say that it was.
Small owners make the mistake of imagining that they are such low-profile targets that no one would ever bother. Since many of these attacks are done through automated software, they just don't differentiate between large targets and small ones. If they can get away with something, they will attack. It's always a good idea for a your small business to implement the best authentication that it can afford. It can't afford to be without it.