Have you read the docs? https://laravel.com/docs/8.x/sanctum#how-it-works
I think it answers these questions.
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I'm planning on using Laravel Sanctum to authenticate requests from a mobile application and as well as third parties.
When I authenticate the user and return them their Authorization token ($token->plainTextToken) to be used for future requests, do I need to be paranoid about storing this on the mobile device securely (as well as telling third parties to ensure they protect it adequately).
Or can I simply store it within the native storage / local storage without worrying about native storage encryption or other means to keep this token safe?
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