Answer:
False
Step-by-step explanation:
The authentication mechanism especially the multi-factor authentication uses three types of authentication form factors.
i. What the entity knows: This includes what the entity knows and can always remember. Such as passwords and PINs
ii. What the entity has: This includes physical items that belong to the entity such as smart cards and token generators.
iii. What the entity really is: This includes natural or body features of the entity such as its thumbprint and its palm which can be used for verification.
According to these three factors, it is evident that password is based on "what an entity knows" and not "what an entity has".