A method and system of independent generation of dynamic password by a client and a server for subsequent verification of the generated password by either the server or the client is provided. The method includes registration of user ID for identification of the client and associating client's related information. Then the client provides one or more static values and one or more variable values for the registered user ID. The server then drives the base value and further the instructions are then applied on the registered ID. Thus generating the random password and further verifying the generated password with the random password and thus authorizing the client.