Reagan won 49 of 50 states in 1984, the largest landslide since Franklin D. Roosevelt's first re-election over Alf Landon in 1936. But Ferraro had forever sealed her place as trailblazer for women in politics.
"At the time it happened it was such a phenomenal breakthrough," said Ruth Mandel of the Center for American Women in Politics at Rutgers University. "She stepped on the path to higher office before anyone else, and her footprint is still on that path."
Palin, who was Alaska's governor when she ran for vice president, often spoke of Ferraro on the campaign trail.
"She broke one huge barrier and then went on to break many more," Palin wrote on her Facebook page Saturday. "May her example of hard work and dedication to America continue to inspire all women."
For his part, Mondale remembered his former running mate as "a remarkable woman and a dear human being."
"She was a pioneer in our country for justice for women and a more open society. She broke a lot of molds and it's a better country for what she did," Mondale told The Associated Press.
Ferraro died at Massachusetts General Hospital, where she had gone Monday for a procedure to relieve back pain caused by a fracture. Such fractures are common in people with her type of blood cancer, multiple myeloma, because of the thinning of their bones, said Dr. Noopur Raje, the Mass General doctor who treated her.
Ferraro, however, developed pneumonia, which made it impossible to perform the procedure, and it soon became clear she didn't have long to live, Raje said. Since she was too ill to return to New York, her family went to Boston.
Raje said it seemed Ferraro held out until her husband and three children arrived. They were all at her bedside when she passed, she said.