That may have been part of the reason, but the theory behind MFA is that there are 3 primary ways to authenticate who you are: what you know (password), what you have (secure one time password generator or hardware token), and what you are (biometrics). Password managers and digital one time password generators have kind of blurred the lines between passwords and one time passwords, but you’re raising your risk a bit if you put them in the same place.
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