Why OTPs are Used for Account Access?: OTP (One Time Password) is a popular two-factor authentication method for security teams to be free from static password-related security issues. It is an automatically generated code that every user gets after logging in to their account. This OTP code must be entered for security purposes when asked. Users most probably receive it via text and email. The major difference is that other passwords exist for a longer period, but one time passwords are for one-time use. Their validity is usually from five to ten minutes. You can also receive these codes via mobile device apps and pocket-size key fobs.
The usage of OTPs for account access is quite simple. Similar to passwords that are something you know, OTPs try to establish that you have at least something to access that password, for instance- that particular linked device or access to the registered email id. OTPs are used in numerous places, like accessing bank loan accounts, modifying travel reservations, verifying identity during a webcam, etc.
One-time passwords create new and random codes by working on various algorithms. This one-time password then acts as your second password. It is distinct for every different account login. These expire within three to five minutes of logging in. These are most suited for sensitive activities performed on the Internet.
Reasons for Using OTPs for Account Access
- Extra Security
OTPs offer extra security over these static passwords. OTPs are based on the fact that they reach out to the person for confirmation that they are the ones trying to log in. Yet some attackers intervene in these security systems. Malicious practices like phishing which access your password when you try to enter it without even getting noticed.
- Safe from Replay Attacks
It is the biggest advantage of OTPs. The attackers who try to trick you and capture your password can’t redo the trick. It’s because OTPs aren’t meant for future logins. The duration of such codes is usually between three to five minutes, and redoing such an activity needs more time than this.
- Keeps Mails Safe
OTPs are mainly received on mobile phones via text messages. So, mail access isn’t required; hence you don’t need to login to your mail accounts on public gadgets in case of unsecured networks.
- Convenient to Use
Almost everyone has a mobile phone, and text service is facilitated by every such device. In addition, the SMS facility means access to diverse OTPs, and end-users can easily access accounts, being familiar with their phone’s functioning.
The Bottom Line
OTPs allow companies to enhance user experience and reduce operational costs. Every user can enhance the security of their accounts using these passwords for every single login. You just need a hardware mobile phone, and then with OTP, you can prevent malicious actors from spoofing account credentials and stealing data. Also, no access to public gadgets is needed, which is a big risk.
