One of the main advantages is the multi-platform. The service remembers your usernames and passwords and then offers to autocomplete on all your devices. The service is free and available for an unlimited number of devices.
The application will also offer to create a complex password and automatically save it, making it available on all devices. The service is currently in beta.
Conveniently, the service can be made basic in the iOS and Android settings. On iOS, go to Settings → Passwords → Autofill Passwords and select Microsoft Authenticator.