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Bloomberg reports that Apple is ready to launch a standalone password and passkeys manager AFP

Apple is planning to launch a new app called Passwords next week, designed to streamline the process of logging into websites and software for its users, according to insiders who spoke under anonymity.

The development will be part of the upcoming iOS 18, iPadOS 18, and macOS 15 updates, reported Bloomberg.

By creating a dedicated app, Apple plans to encourage the use of secure passwords and enhance device privacy.

It will place Apple in direct competition with third-party password managers like 1Password and LastPass. Users will also have the option to import passwords from these rival services.

The Passwords app, which will debut on June 10 at Apple's Worldwide Developers Conference (WWDC), is powered by the existing iCloud Keychain. The new app will allow users to sync their passwords and account information across various devices. Previously, these features were embedded within the settings app or prompted during website logins.

The Passwords app will categorize user logins into different sections, including accounts, Wi-Fi networks, and Passkeys—a password replacement technology that uses Face ID and Touch ID. It will also support auto-filling of data into websites and apps, making the login process smoother.

In addition to Apple devices, the Passwords app will be compatible with the Vision Pro headset and Windows computers. It will also function as an authentication app, similar to Google Authenticator, by supporting verification codes.

The unveiling of Passwords is part of a broader set of announcements at WWDC. The event will also highlight Apple's advancements in artificial intelligence, including features like notification summaries, instant photo editing, AI-generated emojis, and an enhanced Siri digital assistant.

Apple is also expected to announce a partnership with OpenAI to integrate the ChatGPT chatbot into its ecosystem.

It comes amid reports that Nvidia surpassed Apple as the second most valuable company.

Nvidia, which now narrowly trails Microsoft ($3.15 trillion) for the highest market capitalization, has been leading the way in an AI-inspired rally on Wall Street.

The leapfrog ahead of Apple reflects a shift at the top in Silicon Valley, where Apple has reigned for years.

Nvidia has also announced last month a 10-for-1 stock split, set to take place on Friday, June 7.

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