Passwords are the worst

People use the same one everywhere because no one can remember the password for every site they visit

So the accepted practice is to store all of them in a single location/application with some less secure than others

Passwords are prone to scams because anyone can click “forgot your password” and so the site is only as secure as the next “secret” that lets you reset it like your mother’s maiden name

Limited PIN attempts is superior

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Discussion

This is for passphrases for Bitcoin seeds which are even worse because brute forcing and immutable