Once you have a counter, you have state, and you might as well just use a password manager. It may be you're working in the one environment where the master pa

Once you have a counter, you have state, and you might as well just use a password manager. It may be you're working in the one environment where the master password + derived password scheme + counter scheme would be an improvement, but the above objection is why it doesn't work well for most users.