Quantum computing is a new way of computing — one that could allow humankind to perform computations that are simply impossible using today’s computing technologies. It allows for very fast searching, something that would break some of the encryption algorithms we use today. And it allows us to easily factor large numbers, something that would break the RSA cryptosystem for any key length.
This is why cryptographers are hard at work designing and analyzing “quantum-resistant” public-key algorithms. Currently, quantum computing is too nascent for cryptographers to be sure of what is secure and what isn’t. But even assuming aliens have developed the technology to its full potential, quantum computing doesn’t spell the end of the world for cryptography. Symmetric cryptography is easy to make quantum-resistant, and we’re working on quantum-resistant public-key algorithms. If public-key cryptography ends up being a temporary anomaly based on our mathematical knowledge and computational ability, we’ll still survive. And if some inconceivable alien technology can break all of cryptography, we still can have secrecy based on information theory — albeit with significant loss of capability.
At its core, cryptography relies on the mathematical quirk that some things are easier to do than to undo. Just as it’s easier to smash a plate than to glue all the pieces back together, it’s much easier to multiply two prime numbers together to obtain one large number than it is to factor that large number back into two prime numbers. Asymmetries of this kind — one-way functions and trap-door one-way functions — underlie all of cryptography.
Read more at Schneier on Security