Final answer:
A Token is a programmed electronic device that generates a new, time-sensitive password at certain intervals for increased security.
Step-by-step explanation:
A small electronic device that is programmed to generate and display a new password at certain intervals is known as a Token. This type of device is frequently used in two-factor authentication systems to enhance security. Rather than relying on a static password, a token will produce a new, typically time-sensitive, code to be used in conjunction with a user's known credentials. This dynamic code changes periodically, ensuring that even if a code is compromised, it will soon become invalid and hence unusable for unauthorized access.