Two-factor authentication, also known as 2FA. It is an extra layer of authentication and verification. That goes beyond the basic username and password security model.The password is your single factor of authentication. However, using the same username and password for multiple accounts increases the risk of identity theft. One of the methods that have really buffed up secure log-ins.  And cut down on data breaches is 2-factor authentication or One Time Password (OTP Service) authentications.

Two Factor Authentication

The key to gaining unauthorized access to information is the robbery of user credentials. Which include passwords—the usage of them to get entry to debts, after which hack into servers or databases, or deploy malware to steal sensitive information.

In order to curb such events, two-factor authentication was one of the solutions that came up. The adoption rate is staggering. Thanks to OTP authentication, access will be only given to the people will authorization rather than risking violation of data by unauthorized users or hackers.

There are many methods to achieve “two-factor” authentication, but most involve augmenting a username/password with an additional, independent factor.

There are three typical ways to authenticate: 

• Something you know (password, PIN, pattern, passcode, or any other verification based on information only the user should know)
• You have (smart card, token, key, phone, virtual smart card, or other electronic devices)—a physical item carried by the user that is unique to them
• Something you are (fingerprint, voice print, or retinal scan)

Instead of using a dedicated hardware token, or even an application, some vendors deliver solutions that send a server-generated OTP to the user with either an SMS text (sent to the user’s known phone number), or a phone call that uses text-to-voice synthesis to read the OTP aloud.

The security of the system, using this solution, depends on slightly different elements:

Security of the channel used to deliver the OTP

Possession of the phone number used to receive the OTP is the critical security factor for this solution. If the end user’s phone is stolen and the thief knows their username and password, they can impersonate the end user.

Security of the channel used to submit OTP

If a user receives the OTP securely but enters it into a compromised application or web browser, an attacker may be able to perpetrate a real-time attack to gain a valid session with the service provider.

Although the problems with deploying and maintaining traditional OTP generators may be avoided. Using SMS and voice-delivered OTP solutions, many of the same usability challenges remain.

OTP came into existence around the mid of the last decade. Due to the rise of feature phones and smartphones. The security analysts at Oracle, Google, Microsoft and other leading industry sought out to find better security options. Thus giving rise to One-time passwords otherwise also known as two-factor authentication.

Implementation of OTP is a fairly simple process. When you start using OTP, what really happens is that when a user enters. Their login credentials for a web account they have a checkpoint to cross.