Judith,

            I will do my best to explain the function of Captchas as a security 
mechanism and some of the "side benefits" that have been derived from them.

            Captchas work extremely well in differentiating human beings from 
robots (mostly spambots).  The technology is evolving, and there is actually a 
move away from the conventional Captcha, but it's happening slowly.  
Originally, virtually every Captcha text you would be presented with was 
literally scanned from old books and was usually two words.  These were words 
that were difficult to read and there was controversy about what they actually 
were, but only regarding a letter or two.  Having millions of humans see these, 
and give their typewritten responses as to what they were, gave researchers a 
way to narrow down what these words probably are as more and more people leaned 
toward a given answer.  They are excellent for preventing robots from using 
them like humans (sighted ones, anyway) do because they are not characters 
displayed in a way that technology can just skim off and spit back out, thus 
they prevent automated registrations and various sorts of automated attacks by 
programs.   The same idea carries over to the recordings used if you can't see 
these items.  They're not meant to be crystal clear because there does exist 
speech recognition software that can easily take "clean" recordings and 
translate them to the necessary text.  It's only humans that can hear 
recordings that have imperfections such as those that characterize old records 
with their pops and cracks (among other distractions) and zero in on what's 
signal (what they want you to type) and what's noise.

            Captchas, at least the ones that are actual Captchas, do not 
require that you give "the correct answer" but just one that's "correct 
enough."  The very nature of the beast is such that there is ambiguity about 
certain parts of the image, and so long as the response is unambiguous about 
the characters that are unambiguous, but could be anything for the characters 
that are ambiguous, the test is passed.  It really was a brilliant way to 
separate the human from the computerized intruder.  The addition of the audio 
portion was done after the light bulb went off that the blind and visually 
impaired are never going to be reading Captchas from the scanned images, but 
the audio is meant to be at least somewhat ambiguous as well for precisely the 
same reasons.

            I'm not trying to defend Captchas from an accessibility standpoint 
here.  But, contrary to your assertions, they are very, very, very effective at 
differentiating humans from robot programs and if you think about some of the 
places where you're encountering them you will see why that might be a security 
priority at that particular juncture.

            Security features are designed to be barriers.  What they ideally 
should not be are accessibility barriers.  If you go to the official website of 
the "classic Captcha" and click on anything you are immediately redirected to 
Google's site for the new reCaptcha (which, by the way, I'd really wonder if it 
is accessible by design, as it should be) where the next generation of the 
technology, which does not require any reading, but is "point and click" in a 
way that remains confusing to machines but quite clear to humans (and I think 
to screen readers, too).  I've seen lots of reCaptchas already.  This may let 
you know that what's coming next is better, or let you start complaining (and 
legitimately) about accessibility issues ahead of the broader use of this 
technology.

Brian

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