The storage of the secret on the server side isn't really relevant to the major wins that TOTP provides. A well-done implementation stops keyloggers and shoulde

The storage of the secret on the server side isn't really relevant to the major wins that TOTP provides. A well-done implementation stops keyloggers and shoulder surfers, and for many people that aren't using password managers, it does add a significant level of security, without greatly inconveniencing the user. Honestly, the alternatives are worse. For U2F keys, you need to remember to bring your dongle with you, it has bad support on phones/mobile devices, some machines lock down ports, and there's a not-insignificant cost to buy.