Controls & technical basics
A short code that works for a single login and then expires, sent by text message or shown in an app.
Formal
A code valid for one use or a short time window, worked out by an app or token from a shared secret and the clock or a counter, or sent by SMS - used as the "something you have" factor in MFA.
In plain English
Like a ticket that is torn in half at the door - it gets you in once, and a copy is worth nothing afterwards.
In practice
A lawyer at a Danish law firm logs in to the case system from home; after her password she types the six numbers shown in an app on her phone, which change every 30 seconds.
Why it matters
A stolen password alone no longer gets anyone in, but a code can still be tricked out of a person on a fake page, so phishing-proof methods are stronger.