You are probably looking at it back. It is very * unlikely * that 2.3% was a "real" failure rate, and it is more likely that 35% (excellent failure rate) is a more realistic number.
A 2.3% bounce rate usually means that either the initial sign-in page or all the input pages simultaneously sent multiple clicks to Google Analytics.
But the basic definition of bounce is a visit in which only one request (for example, one pageview) was sent to Google Analytics.
EDIT:
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