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Consider the subalgebra of $M_{2n}(k)$ spanned by the matrices of the form $\left(\begin{smallmatrix}0&A\\0&0\end{smallmatrix}\right)$ (all blocks are $n\times n$) together with the identity, which is commutative. Its dimension is larger than $n$, 2n$ when $n$ is sufficiently large, so it is not generated by a single matrix.

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Consider the subalgebra of $M_{2n}(k)$ spanned by the matrices of the form $\left(\begin{smallmatrix}0&A\\0&0\end{smallmatrix}\right)$ (all blocks are $n\times n$) together with the identity, which is commutative. Its dimension is larger than $n$, so it is not generated by a single matrix.