Multi-Factor Authentication (MFA) adds an extra layer of protection on top of a user name and password. With MFA enabled, when a user signs in to an AWS website, they will be prompted for their user name and password, and for an authentication code from their AWS MFA device. It is recommended that MFA be enabled for all accounts that have a console password.
Enabling MFA provides increased security for console access as it requires the authenticating principal to possess a device that emits a time-sensitive key and have knowledge of the credential.
See the CIS AWS Foundations Benchmark controls docs for console remediation steps.
4.5 Use Multifactor Authentication For All Administrative Access - Use multi-factor authentication and encrypted channels for all administrative account access.