Two Factor Authentication and 2-Step Verification are the same thing. It is the process whereby you log in with your password and something else. In most circumstances, this might be a code that is generated from an app on your phone. Apps such as Google Authenticator or Authy can create secure codes linked to your login for Safeguard Record Manager.
To read more about two factor authentication, see Authy's article, What Is Two-Factor Authentication (2FA)?.