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OTP (One-Time Password)

A one-time password (OTP) is a code that is valid for a single login or transaction, usually for a short time. Because it changes every time, a stolen OTP is of little use later. OTPs are widely used as the second factor in two-factor authentication and to confirm payments.

OTPs may be sent by SMS or email, or generated by an authenticator app. TOTP (Time-based OTP) apps such as Google Authenticator create a new 6-digit code every 30 seconds from a shared secret and the current time; HOTP codes are based on a counter instead. Never share an OTP with anyone: banks and companies never ask for it.