Computer systems and their interconnections using networks have im-proved the dependence of both the organizations as well as the individuals on the stored information. This interconnection, in turn, has led to a heightened awareness of the need for data security and the protection of data and re- sources from electronic frauds, electronic eavesdropping, and networkbased attacks. Consequently, cryptography and network security have evolved, leading to the development of smart cards to enforce network security. Re-cently, Rafael Martinez-Pelez and Rico- Novella Francisco [1] pointed out vul-nerabilities in Wang et al. [2] scheme. In this paper, we cryptanalyze Wanget al. scheme and demonstrated that our proposed scheme withstands thevulnerabilities pointed out by Francisco et al. and it completes all the re-cent security requirements of [3]. We implemented the proposed scheme in MATLAB and demonstrated that our proposed scheme is not vulnerable to the shortcomings pointed out by Francisco et al. in their scheme.