1. Apparatus for affording access by a user to a software program residing in a computer, comprising an access key capable of generating a password and of being transported independently of the computer and an access key verification means adapted to be resident in the computer, for verifying a passward generated by the access key and allowing access and use to the software program wherein: said access key includes: (a) pulse generating means for generating a signal that is dependent in the elapse of time; (b) password generating means coupled to said pulse generating means for generating a password from the signal from said pulse generating means; (c) displaying means communicating with the password generating means for displaying at least part of said password; and said access key verification means includes: (a) means for receiving at least initially a time input; (b) means for receiving the password as generated by the access key and input by the user; (c) means for processing the time input for producing an internal password; (d) means for determining if the internal password bears a prescribed relationship to the password generated by said access key; (e) means for affording access to the software program if the prescribed relationship exists.