@Havenswift Hosting said: With the constant attacks against the login processes of all types of websites, but WordPress and Joomla especially, a change to password less login systems is imperative.
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We have been using it on a couple of WP websites ..."

The exploits against login processes are mainly a matter of walking through the mall parking lot, glancing into vehicles for folks' keys hanging in the ignition.

While there are elaborations of & alternatives to the login facility, and some are likely to be useful in some settings, an across-the-board abandonment of traditional password & username hardly seems an "imperative". It doesn't even sound very smart.

A security measure used "on a couple" Internet sites enjoys what is known as "Security Through Obscurity". The bad guys are not aware of it (and it's too uncommon if they are), and thus are not putting any effort into subverting it. With success, and widespread deployment, comes the more-realistic test of its robustness.

@Havenswift Hosting later asserts: ... [A]ny system [such as Launchkey] that introduces multi-factor authentication is infinitely better than relying on username and passwords.

While increased complexity does or can make it harder - initially - to conquer a security device, it also creates more opportunities for manipulation. If the multi-factorial aspect was the answer, Microsoft and Internet Explorer would have been bullet-proof, all along.

Again, yes, there are pluses & minuses to be found or created, between different approaches or solutions, but "infinitely better", like imperative, misstates the situation.