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It's true that two-factor authentication is not impervious to hackers.One of the most high-profile cases of a compromised two-factor system occurred in 2011, when security company had been hacked.It definitely adds an extra step to your log-in process, and depending on how the account vendor, such as Twitter, has implemented it, it can be a minor inconvenience or a major pain.

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Oberheide said that many of his customers start off thinking that implementing 2FA will be expensive or hard to use, but often find that their experience with it is the opposite.

"I think that will come faster in the consumer space because they're not dealing with all this cruft from the legacy of 2FA from the '80s," he said.

Fenton said that while two-factor authentication makes it harder to log in, it's not "hugely" more so.

"An attacker might be able to collect a cookie or an OAuth token from a website and essentially take over their session," he said.

Account recovery works as a tool for breaking two-factor authentication because it "bypasses" 2FA entirely, Fenton explained.

"Just after [the Honan story was published], I created a Google account, created 2FA on it, then pretended to lose my data." Fenton continued: "Account recovery took some extra time, but three days later I got an email helpfully explaining that 2FA had been disabled on my account." After that, he was able to log back in to the account without 2FA.

Account recovery is not a problem without a solution, though. "I see biometrics as an interesting way to solve the recovery problem," Oberheide said.

"If I lost my phone, it would take forever to go through each account and recover them.

If there's a very strong biometric recovery method, a passcode of my choosing, and a voice challenge or something like that, it becomes a very reasonable and usable recovery mechanism." Basically, he's suggesting using one form of two-factor for logging in, and a second, different two-factor combo for recovery.

As two-factor authentication becomes more commonplace, it's more likely that attacks will be more successful against it. But by virtue of being more commonplace, it will become easier to use, too.

SMS is "universal in some respects; all you need is a mobile phone." But Twitter has faced some backlash, he said, because many of the highest-profile Twitter hacks have been against corporate Twitter accounts.

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