A user terminal, a password-based trading terminal, a system and a method for password-based authentication are provided. Wherein, the user terminal comprises a password generation module and a first near field communication module. The password generation module is configured to generate a password. The first near field communication module is configured to convert the generated password into near field communication label data, and then send the data to a password-based trading terminal through near field communication. The present application effectively ensures password security during the password-based authentication.
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