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On a computer system or other digital device, a One-TimePassword (OTP), also known as a one-time PIN, one-time authorization code (OTAC), or dynamic password, is a password that is only valid for one login session or transaction. Many implementations of OTPs also include two-factor authentication (or multi-factor authentication) by requiring that the one-timepassword requires access to both something the user has (such as a small keyring fob device with the OTP calculator built into it, a smartcard, or specific cellphone), as well as something the user knows. OTPs avoid several drawbacks that are related to traditional (static) password-based authentication (such as a PIN).

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