Could you have an object with a strong enough magnetic pull to affect life on earth , but not a great enough mass to cause epic *gravitational* interference? I'm asking honestly, I don't know.
As others have pointed out, many basic magnets, never mind the ones used for particle accelerators etc,, humanity have made have magnetic fields stronger than the Earths. And even the strongest don't have global impact.
Off the top of my head, to impact the magnetic field of the Earth
globally, I suspect you'd have to construct a device with at least the scale of the Earth itself. Possibly one could construct (theoretically) a far more efficient system, in terms of mass, than the natural one the Earth has....for example people have suggested ionising Phobos' surface to create a plasma torus around Mars that could give it magnetic field. So I guess nab an asteroid and make it orbit the Earth, ionising it? A
little bit out of our abilities at the moment!
A passing Neutron star, which has magnetic fields trillions of times higher than the Earth's were to pass close by it could have a major impact on the magnetic field, but the impact would be hard to quantify. A neutron star is very small in scale - about 20km in diameter - so more like a point source next to the Earth. So although much stronger, I don't think it will have a 'smooth' global impact! However, a passing neutron star, close enough to majorly impact the Earth, is going to cause far more problems with its gravity.
In my eyes there are two main benefits of the Earth's magnetic field that are vital: In the short term they stop most of the solar wind and cosmic rays depleting and then overpowering the ozone layer. When this is gone, then the flux of hard radiation hitting the Earth would be, if for a quite small amount of time, catastrophic. Radiation could eventually kill everything living on the surface. A close enough supernova could do the same thing and wipe out the ozone layer in a similar manner.
Secondly, if the magnetic field were switched off, so to speak, for a very long time (and also somehow the fact that radiation didn't kill everything) then the solar wind would start to evaporate the parts of the Earth's atmosphere. Now in general Earth would hold onto quite a bit of its atmosphere as its gravity is strong enough to hold on, but lighter elements would be pulled away. Unfortunately molecules like water, when dissociated are a bit at risk. So give it long enough, we could lose a significant amount of water...maybe...but we're taking about geological timescales here that the magnetic field needs to be switched off, for this to happen. So it's not something to worry about for a very short, year or two magnetic field transition/disappearance!