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What does OTP mean?

OTP means One Time Password

OTP is used in companies where it is important that the information is well shielded and remains. Using OTP makes it more difficult to gain unauthorized access to the confidential/personal information. A fixed password (or password that is rarely changed) is much easier to identify by malicious (if enough processing power is available). Globally seen there are 3 types of OTP:

  1. It uses an algorithm to create a new password based on the previous
  2. This uses the current time of the questioning computer and the authentication server
  3. It also uses an algorithm, but the new password is based on an identity question

OTP is widely used in the banking world, often in combination with a bank card.

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