Video courtesy of Auth0 by Okta
OTP stands for One-Time Password/Passcode and is commonly used as a passwordless authentication mechanism where a (password) security credential is valid for a single use. An OTP is similar to an OTC — a One-Time Code — and an OTL, a.k.a. One-Time (Magic) Link, in that each is only valid for one-time use. OTPs, OTCs and OTLs also come in timed varieties, i.e. TOTPs, TOTCs and TOTLs, where the password, code and/or (magic) link is also only valid for a certain duration.
Discover more about OTPs, OTCs and OTLs in the article entitled: Passwordless OTP and Magic Link Scenarios.