The new security and authentication method is based upon FIDO2 (Fast Identity Online 2) and WebAuthn protocol open standard. The method of authentication has been proven to be far more secure than having to regularly key in a password, can even be used in tandem with two-factor authentication (2FA) key if needed. To be both fair and clear, Android smartphones already have the ability to allow the user to use their fingerprint to authenticate Google Pay purchase, as well as to log in to apps. As mentioned earlier, Google is looking to extending that same functionality towards some of its web services on Chrome. On a related note, the authentication process isn’t just limited to fingerprint recognition; you can also choose to log in those same services using PINs or pattern unlock.
You won’t have to worry about your password being stolen either. As explained by The Verge, by using this method of security, credentials are stored locally, as opposed to being stored in a remote cloud server. Meaning that your device can’t be intercepted or hacked. Further, the method also negates the possibility of your password being “phished” out, simply because you were tricked into visiting and keying in your password on a website of questionable repute. Until the features become active, users will only be able to view and edit the passwords that Google has saved for you. On that note, you can check out the passwords you’re currently using for your accounts. (Source: Google, The Verge)