What are the benefits of passwordless authentication?

https://player.vimeo.com/video/722145771?h=547ad21752&badge=0&autopause=0&player_id=0&app_id=58479&dnt=1

In this video for Help Net Security, Christofer Hoff, Chief Secure Technology Officer at LastPass, talks about the benefits of passwordless authentication.

The basic components needed to make passwordless authentication a reality are:

• An open, standard set of processes, technologies, APIs, etc., to enable all the various components to work together across devices, operating systems, browsers and applications.
• Support for the creation and storage of cryptographical elements needed to generate pass keys.
• We need to make sure there’s a way of securely making those pass keys available across any device that we need to authenticate.
• We need a way to securely assert that the person who’s attempting to authenticate, actually owns and has the right to use those credentials using standard interfaces, such as biometrics or MFA.
• We need a secure way to recover pass keys, should the device become lost, stolen or inoperable.

Source: https://www.helpnetsecurity.com/2022/06/22/passwordless-authentication-benefits-video/