The document discusses web authentication and the future of passwords. It provides an overview of public key cryptography concepts like asymmetric encryption. It then summarizes the FIDO Alliance standards of UAF and U2F which aim to provide passwordless authentication using public key cryptography during a registration process where keys are created and stored locally and on the server. It describes how the W3C Web Authentication working group is developing browser APIs and specifications to enable FIDO-based authentication directly in web applications by creating and validating credentials and assertions. The document provides code examples of how the WebAuthN API could be used for registration and authentication without requiring storage of sensitive user data locally or on the server.