Why are Yubikeys So Secure as an Authenticator?

Episode 1689 (2:03:20)

Kevin from Vancouver, BC
Yubikey

Kevin wants to know if the Yubikey is better than other hardware authenticators. Leo says probably not. Hardware is pretty ubiquitous now. And the mere presence of the hardware is key because it's a physical authenticator that generates a one time code that is tied to the physical key. So it's very secure. The worst is an SMS text authenticator.