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In this YouTube tutorial, Tomas Vergis, CTO of Identity Arts Tech, discusses the costly issue of password resets in the IT industry. One customer is spending half a million dollars annually on Wi-Fi password resets. The solution is to move towards password elimination, strong authentication, and single sign-on for applications. Two options for tackling the password reset issue are Microsoft Identity Manager for on-premises deployment and Azure Active Directory for cloud deployment. Various solutions are available for managing passwords in the industry.