Final answer:
The two MFA factors being used are 'Something you know' like a password and 'Something you have' such as a device that generates authentication codes. These factors are crucial in creating a secure login environment for both individuals and organizations.
Step-by-step explanation:
The authentication process described involves two separate factors which combine to increase security during the login process. This is known as Multi-Factor Authentication (MFA), and it significantly enhances security for individuals by requiring multiple pieces of evidence before granting access. In the scenario provided, when a user enters a password followed by an authentication code, the two factors being utilized are:
- Something you know - This refers to the knowledge factor, such as a password or a PIN, which is something the user has memorized.
- Something you have - This factor typically relates to a physical device such as a smartphone, security token, or a smart card that generates or receives an authentication code.
These combined factors are part of a strategy to provide stronger passwords and protect users against being scammed. Such practices are also essential for companies and governments looking to implement stronger protections on websites and secure sensitive information.