What is a One-Time Password (OTP)? 

A one-time password (OTP) is a password that authenticates a user for a single login session or network transaction. It’s typically generated by the system being accessed and is generally more secure than a static password as it does not need to be remembered beyond the session.

What can we use a One-Time Password (OTP) for? 

OTPs prevent some forms of identity theft by ensuring that a stolen username and password pairing cannot be used a second time. OTPs are generally used as an additional layer of security for high-value or sensitive systems and resources, such as financial data. To enjoy the full protection OTPs offer, they must be securely implemented through encryption or using them as part of a multi-factor authentication approach.