The one of the biggest reasons this should never happen here is entropy. The "password" has to come after the key generation part. Now commonly used in bitcoin key generation -> seed-phrases
https://en.bitcoin.it/wiki/Seed_phrase
I know people want easier key management, and recovery, but should not be possible in conventional means.
I am trying to work on a self hosted option, but it's not easy when you aren't a security researcher.