Should we abandon the password?

As the catalogue of hacked websites and databanks grows, we are warned over and over again to abandon passwords. But can we? Should we?

Life was so simple once. We worked for a company, we signed on in the morning with a password which gave us access to the company server and we went and did our job. The password itself was usually given to us by the IT manager or one of his minions (they always seemed to be "him" in those days). Nobody, pretty much, ever changed them or worried about anyone else accessing their own stuff. After all, the email was for office stuff wasn't it.