At present, there is banking application that needs a complete authentication and authorization for its customers. You have been hired to define the policy and solution based on your experience and expertise of authentication and authorization. You will propose the policies, procedures, standards, for authentication, access control, etc.

Make sure you address each of the following in your solution approach $$ justify your answer $$ why you chose what you chose.

$1.$ Users are authenticated with password$-$based method$$

a$.$ Discuss the method,

b$.$ Discuss the policies$/$standards you recommend.

c$.$ Describe the solution functionally including storage