This isn’t strictly a privacy question as a security one, so I’m asking this in the context of individuals, not organizations.
I currently use OTP 2FA everywhere I can, though some services I use support hardware security keys like the Yubikey. Getting a hardware key may be slightly more convenient since I wouldn’t need to type anything in but could just press a button, but there’s added risk with losing the key (I can easily backup OTP configs).
Do any of you use hardware security keys? If so, do you have a good argument in favor or against specific keys? (e.g. Yubikey, Nitrokey, etc)
Last year Cloudflare had some offers to buy Yubikeys at half price. Bought two of them. Using these hardware keys is better than trusting phone to be single failure and getting locked out.
You should always back up your OTP secrets, but I agree Yubikeys are a good choice. You can get USB A for $25. I think the Yubikey 5 grants you app access for an additional $25 or more? Pass.
What I did was to use keepass to store most of TOTP and use Yubikey to unlock it. Absolute critical ones like email is saved directly in Yubikey.