Yahoo! Inc. (NASDAQ:YHOO) launched a new Yahoo Mail app, which is available on iOS (iPhone and iPad) and Android devices.

According to the tech giant, the new Yahoo Mail app is beautifully designed, fast, intuitive, and integrated with several features including smarter search, contacts management, and rich compose.

Yahoo users can now connect & manage all e-mail accounts

Yahoo said users will now be able to connect and manage their e-mail accounts from, Hotmail, and AOL mail from Yahoo Main on mobile and desktop starting today.

In a statement, Jeff Bonforte, senior vice president of communications products at Yahoo said, “Email is the most prevalent way people communicate online. However, what we want from our inbox is evolving. Mobile use requires a faster and smarter inbox. Both of these needs are at the center of our new app.”

Yahoo key: an alternative to old passwords

The tech giant also introduced a new service called Yahoo Account Key to eliminate the old passwords. According to Yahoo, the new feature is a more secure and simple alternative to the old passwords.

Yahoo Account Key has a secure and easy-to-use interface, which allows users to just tap a button to access their Yahoo account.  Users can tap the yes button to indicate that the attempt to sign into their account is legitimate or tap the no button to deny unauthorized access.

Users can also verify their identities through an e-mail or text message sent to alternative accounts and numbers if their smartphone is lost or stolen.

Dylan Casey, vice president of product management at Yahoo said, “Passwords are difficult to remember and secondary sign-in verification is inconvenient and confusing. “

He added, “Earlier this year we launched on-demand passwords using an SMS code. We’re now taking a major leap towards a password-free future with the launch of Yahoo Account Key, which uses push notifications to give users simple and secure access using their mobile device.”

On the other hand, Symantec Security Manager Satnam Narang told Reuters that Yahoo’s approach is “a step above a password.”  However, he noted that the Yahoo Account Key still falls short of the two-factor authentication, which is the golden standard in security. The two-factor authentication requires users to confirm their identity with two different types of information.

Narang also believed that passwords will not be eliminated soon. He said, “I think passwords are going to be around for a little while, I don’t think they’re going away as soon as we’d like them to. They’re so ingrained in everything we do from banking to email to shopping, you name it.”