Logging into PSN on HFW 4.86
The riskier option, typed by u/AzgalorFelore

DISCLAIMER: Do this at your own risk. This can lead to the suspension or a ban of your PSN account.

Prerequisites:

Steps to login to your PSN account without updating to the latest OFW:

Video showing all the steps I have typed below.
  1. 1.
    Install FileZilla to your computer
  2. 2.
    Download webMAN MOD and multiMAN on your computer, connect your pendrive to your computer, then drag and drop the files to your pendrive or any other storage device that is formatted to the FAT32 file system.
  3. 3.
    Disconnect the pendrive from your computer and connect it to the second USB slot of your console. After you've connected the pendrive, go to "Package Manager", then "Install package files", and "standard, you'll see both files appear on the menu.
  4. 4.
    Install webMAN MOD and multiMAN to your PS3. After you've installed webMAN MOD, you'll have to press x on it so that it activates every time you turn on HEN.
  5. 5.
    Open MultiMAN and go to "system information". Write down the IP address that you see on your menu.
  6. 6.
    Open FileZilla and type your console's IP address right next to where it says "HOST".
  7. 7.
    After establishing a connection to your console, drag and drop the "ps3-updatelist.txt" file to the root of the dev_hdd0 directory shown in FileZilla.
  8. 8.
    Restart your console, turn on HEN, and try to login to your account.
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DISCLAIMER: Do this at your own risk. This can lead to the suspension or a ban of your PSN account.
Prerequisites:
Steps to login to your PSN account without updating to the latest OFW: