Techniques for generating a multi-factor asymmetric key pair having a public key and split private key with multiple private portions, at least one of the multiple portions being a multiple factor private key portion, are provided. First and second asymmetric key pairs are generated, each having a private key and a public key. A text string and the first private key are cryptographically combined to make a first private key portion of the split private key. This first private key portion is a multiple factor private key portion. A second private key portion of the split private key is generated based upon the generated first private key portion and the second private key.