Yahoo will let you sign in without your password

Yahoo over the weekend announced a new initiative that will allow users to sign into Yahoo.com accounts without the need of a traditional password. Dubbed "on-demand passwords", the security system will text Yahoo users a one-time use code in lieu of their password when they attempt to login.  

"You no longer have to memorize a difficult password to sign in to your account – what a relief," said Chris Stoner, Yahoo's Director of Product Management.

On-demand passwords is similar to two-step authentication, but doesn't provide the same level of security. By removing the requirement of a traditional password, a user would be left exposed in a scenario where their phone was lost or stolen.

On-demand passwords is currently opt in only, and appears to be restricted to American Yahoo users.

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