In the first step, you enter your usual login credentials. One-time passwords are often used for two-factor authentication in areas such as online banking, but they are now increasingly being used by companies, too. Once you’ve logged in with a one-time password, it expires and cannot be used for the next login session. One-time passwords are often referred to by their abbreviation OTP and are sometimes also called OTP codes.Ī one-time password usually consists of an alphanumeric OTP code (letters and numbers) and is generated for a single login session. A one-time password is a password that can be used once and then expires.
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