You can generate an API token to be used for accessing the API. A token needs to be generated the first time you access this screen. Once the token is generated, you can then decide to keep it or set an expiry date for the token as needed.
To generate a token:
Click Generate Token and the following is displayed.

You can set the number of days after which the token should expire or choose to keep the token active without any expiry.
To set the expiration , type the number of days after which the token should expire and then click Set expiration days. In this case, the token will not be valid after it expires.
If you do not want the token to expire, click Does not expire and the token will remain active.
Also, if you set the value as 0, the token will have no expiration date. Once the selection is made, the following message is displayed.

Click Yes to proceed and the new token is generated. If No is selected, the existing token will remain as is.
The token is generated as shown below.
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Once the token expires, a new token will not be automatically generated (the expiry date will still show the old date), and the API import will fail with a 403 error. An error message that ‘Security token has expired’ is displayed while using API to process the import.
You need to generate a new token from the API page to run imports.
You can also copy the token to the clipboard by clicking the Copy to Clipboard
icon which can be pasted to the required parameter in the API settings. You can also delete the token if not required by clicking the Delete Token
icon.