Baptists have distinguished themselves from other denominations with this distinction, the Bible is the sole authority for faith and practice. However, the London Baptist Confession of Faith (LBCF, 1689) reads:
The Holy Scripture is the only sufficient, certain, and infallible rule of all saving knowledge, faith, and obedience.
That's how the London Baptist Confession of Faith starts. It doesn't say that the Bible is the only authority for faith and practice, because it goes on.
although the light of nature, and the works of creation and providence do so far manifest the goodness, wisdom, and power of God, as to leave men inexcusable; yet are they not sufficient to give that knowledge of God and his will which is necessary unto salvation.
Later we read in the section on Scripture:
Nevertheless, we acknowledge the inward illumination of the Spirit of God to be necessary for the saving understanding of such things as are revealed in the Word, and that there are some circumstances concerning the worship of God, and government of the church, common to human actions and societies, which are to be ordered by the light of nature and Christian prudence, according to the general rules of the Word, which are always to be observed.
And even later,
our full persuasion and assurance of the infallible truth, and divine authority thereof, is from the inward work of the Holy Spirit bearing witness by and with the Word in our hearts.
It ends with the following:
The supreme judge, by which all controversies of religion are to be determined, and all decrees of councils, opinions of ancient writers, doctrines of men, and private spirits, are to be examined, and in whose sentence we are to rest, can be no other but the Holy Scripture delivered by the Spirit, into which Scripture so delivered, our faith is finally resolved.
The LBCF also says that "light of nature" and "works of creation and providence" are authorities. Then it says that the "illumination of the Spirit of God" is a necessary authority. After which, it says that "light of nature and Christian prudence" orders "circumstances concerning the worship of God, and government of the church, common to human actions and societies." And finally it says that the Holy Spirit again is an authority in the persuasion and assurance of the truth of the Word. The latter is how the church identified and agreed upon the sixty-six books of Scripture.
I write all this to say that Scripture is not the sole authority for faith and practice, but the sole infallible authority for faith and practice, and, therefore, the supreme judge. That contrasts with Roman Catholicism which places the Bible parallel with tradition. So does tradition and history have no authority? I contend, "no," and I take you in part back to the original statement of the Baptist seminary president in Erickson's theology. "We are bound by the historic Baptist position!"
Baptists have no authority but the Bible. So how did they get their distinctives? They're in the Bible, yes, but they're the distinctives of Baptists through history. These are the distinctives that have distinguished Baptists through history. Do you hear another authority there? There are other authorities, just no other infallible authority besides the Bible.
Roman Catholics use 2 Thessalonians 2:15 and 3:6 as a basis of tradition as an authority. Are those two verses legitimate as a basis for tradition as an authority? They sound like it to me. However, they are not a basis for tradition as parallel with the authority of Scripture.
The Bible as an authority doesn't mean that whatever we think it means is an authority. It's what it is actually saying that is an authority. And what does it actually say? What the Bible says is not new. It's old. And what's old, that gets passed down, is tradition. It isn't superior to Scripture, but it shouldn't be ignored either. There are some with the Bible as their only authority, who actually have what they want the Bible to mean or say as their authority. The Bible itself gives authority to the church and the testimony of the Holy Spirit.
We live in an age that more than ever men invent new things for the Bible to say and mean. They justify what they do with the Bible with interpretations and beliefs and practices that are new. They claim the Bible as authority. This is where tradition should not be ignored. Other authorities exist. They are necessary. It's just that the Bible itself is the only infallible one.