Great questions – we've been working on finding good answers since WebAuthn Platform Authenticators (and now passkeys) have been announced.
tl;dr:
- Passkeys do not require a password; passkeys and passwords can coexist, but do not require each other
- Passwordless accounts that are protected only by one ore more passkey(s) are the clear goal and will become a reality once passkeys are fully supported on all platforms
BUT you have to take into account what your average user knows about authentication and what they expect when they want to create an account or login to your app or website.
We frequently hear from users as well as service providers things like:
- "How can my account be secure if I don't need to enter a password??"
- "I don't want this website to see my fingerprint" (which of course will never happen, but is still the #1 user concern with WebAuthn)
- "I lost my phone (and therefore my passkeys) and want to sign in, where can I enter my password?"
- "I'm still on Windows 7 and can't use passkeys"
Ultimately, it would just not be a good idea to offer only passkey-based authentication for any production login today. In a few years things will look different, but for now the only sensible approach is to offer a regular login with a passkey alternative (on supported devices). Slowly, users will get to know the technology and the term passkey from the big account providers (Apple, Google, MS, Amazon, ...) and the typical username/password login form will be degraded to a fallback/recovery method and hopefully be completely gone someday.