A web developer is building an authentication system for a new application. The system must handle user authentication for a web portal and API authentication for third$-$party integrations. The developer is considering two options: Token Authentication and API Key Authentication. Given the context, which of the following statements is most accurate?

Token Authentication is suitable for more straightforward authentication needs and is commonly used for API access control.

API Key Authentication is designed for scenarios requiring fine$-$grained access control and is often used for user authentication in web applications.

Token Authentication provides a more straightforward authorization mechanism, making it ideal for API integrations with less complex user roles.

API Key Authentication offers better security features, including the ability to embed user$-$related information in the authentication mechanism.