My requirements are:
1. Nothing tied to a specific device, especially one that can be easily lost/stolen/broken like a cell phone or USB drive
2. No biometrics
3. It shouldn't permit anyone, outside the website I'm logging into, to know if, when, and/or how often I log into that site.
I'm pretty sure using passwords with an offline password manager is the only thing that satisfies that, but if someone comes up with something better that meets all my requirements I'd be all for it.