If a system relies on "passwords" (or any similar shared secret scheme) it clearly doesn't really care about security. Yes that includes your bank.
If it doesn't require shared secrets, this isn't scary, the git mechanism works just fine.
If it doesn't require shared secrets, this isn't scary, the git mechanism works just fine.
that's ... one of the dumbest thing I've ever read
They're a classic "Worse is better" like C where their principle advantage is simplicity of implementation. Sure, they're terrible, but look easy it was!
How can shared secrets be a bad idea? I mean, it was considered pretty good a thousand years ago, can technology really have improved since then? [Hint: yes, drastically]