Ask most people what the least favorite part of using their devices is and you’re bound to get a similar answer: passwords.

Unfortunately, the critical role passwords currently play makes them a tediously repetitive necessary evil of living in our digitally-powered world. However, imagine a time when they won’t be necessary, yet you can still log into your devices, conduct safe transactions, and access your accounts with the kind of security and privacy that the concept of a password is supposed to provide.

In fact, imagine doing all those things in an even safer, faster, and more convenient way than you currently do (and without the potential for hacks, break-ins, and other security breaches that, in 80% of cases, are caused by stolen passwords).

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Thankfully, as the result of a major new agreement between Apple, Google, and Microsoft that, ironically, was announced last week on World Password Day, we’re much closer to that new vision than you probably realize. Together, these three major device platform vendors agreed to extend the cross-collaboration and use of a technology standard created by an industry organization called the FIDO Alliance that, eventually, will rid us of the need for passwords.

The idea behind the concept is simple. You essentially need to provide a way to prove to your device that you are who you claim to be (that is, you authenticate yourself) and create what I call a portable digital identity. Today, most of our devices are able to do that with technologies like face scans, fingerprint readers, and other mechanisms that don’t involve passwords (though some still use PINs). That portable digital identity, in turn, is converted into a digital key that can be used to open access to your devices, accounts, payment methods, etc.