A Trusted Platform Module (TPM) can be utilized to implement One Time Password (OTP) mechanisms. One or more delegation blobs can be created by the TPM and the delegation authentication values of the delegation blobs can be based on the version number of the delegation blobs. A data blob with a protected secret can comprise a pointer to the delegation table of the TPM. The version number can be provided to an authority from which an OTP (a delegation authentication value) can be received. The OTP can be utilized to gain access to the secret and an authentication value of the key blob, which can be utilized to increase the version number of all associated delegation blobs. Policy limitations can be associated with the delegation blobs and can be enforced by policy enforcement mechanisms that can reference the TPM tick counter to enforce temporal policy restrictions.