How to install new software on iMac when I cannot login to the APP store?

I have an older iMac which I need to update to iOS Lion. I have bought the iOS Lion Software in the Apple store and received it in my email.

The problem is I cannot login to the APP store with my Apple id to install the new software. I believe it is due to the 2 factor approval that is activated for my Apple id. However, my old iMac does not support 2 factor approval so when I fill in my Apple id and password I am asked to fill in my password again followed by the code sent to my phone.

Instead of seeing the box to fill in the code I get an error that my password is incorrect - which it is not.

Is there a way to work around this? Can I some how disable the 2 factor approval on my Apple id so I can login to APP store on my iMac and install the new software?