Nice to see you again, @fyrstikken .

You've certainly touched on an unanticipated problem. Now that Steem's market cap is ~$1.5 billion, a whale-sized account represents a lot of money. I'm only a small orca, but the market value of my account is five times the market value of a 1 kilogram gold bar.

[Fun Fact: While I was verifying the above, I found out that APMEX now accepts Bitcoin...]

That's a wee bit scary when ya think about it. If I owned the equivalent in gold, I'd prolly store it in a safety deposit box or vault.

Even if a randomly-generated password is strong, it still represents a point of vulnerability. Like a key to a safety-deposit box, passwords can be stolen. Your suggestion certainly has merit.