I'm still a big fan of passwords. Long, hard to guess passwords. More than one password/phrase as a failsafe, in case I lose it. I got my first iOS device 3 days ago as a gift, an iPad. During the excitement of the setup process, I was told to set up 2FA for my iCloud account, which I've never conscientiously used since I own no iOS devices. Now all my Apple ids, from my 2009 iMac to my macbook are tied to the darn 2…
https://support.apple.com/en-us/HT204915
Also, SMS is always in-addition to your password. If you forget your password and you don’t have a trusted device from which to reset it, then Apple uses a recovery procedure which requires more than just SMS for verification.
You can also enable a recovery key which will then prevent SMS from being used to reset your password. With a recovery key you need to either use a trusted device or the key to reset your password.