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Using HMAC-SHA256 with short passwords and sliced outputs for short-lived secure hashing

I don't have much background in cryptography, so forgive me if I'm using the wrong mathematical terms to explain my needs. Following this question, I learned that taking a random secret 16-bytes ...
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How does SafeNet MobilePASS generate passwords?

We use MobilePASS at work but the latest version of the android client seems to be buggy so I wanted to have a go at implementing the algorithm myself. You can download the client to play with here: ...