Dynamic passwords - idea for blochain.info and others

Here is an idea I had one of these days and that certainly could protect us a lot, specially in online services.
The name says it all: dynamic passwords.
I will introduce you to it with a few examples.
You have to set a hidden logic that will modify your static password.
A graphical interface like that used in LabVIEW or "Yahoo pipes" would make it easy to sketch the hidden logic and pipe/wire it all in connection with the static part of your password.
So, for example, you could have your real (dynamic) password be the static password followed by the exact temperature at the Big Ben at that time. Or between the first and the second letter of your static password having the first word on a specific dynamic website in capital letters.
In the first case, in the graphical interface to set the hidden/dynamic logic you would put the icon of your static password and then the icon of the exact temperature at the big ben at that time. Just like in LabVIEW - you are probably not familiar with it but you should give it a try. Download it and play around with it a bit, after watching some youtube videos - you would be able to set it all in terms of wiring. So you would tell the software that the dynamic part would be following the static part and that all characters of the static part would be used. If you are familiar with LabVIEW you will understand straight away how a graphical interface and wiring would make it so easy to program it as desired.
In the second case it would be the same but you would use the icon for the specific dynamic website and wire it so that the dynamic part would fit in the middle of the static part.

For me it is clear how this would work, but please ask me questions because otherwise gets difficult for me to develop on this.
Also the password could be a set of icons that you would click on the screen at specific times so that nothing from the keyboard would need to be used and your password would not need a keyboard at all. And because it was dynamic it would be even more difficult for someone to figure even if he was filming/recording everything in your PC.