If you’re a high value target then you shouldn’t do this
I've been trying to understand password managers for a while. My workplace forces us to use one.
But what you've said doesn't make sense. If your "master password" used in the password manager is discovered, then all your passwords are compromised.
If my laptop or phone gets stolen and someone knows the password from my password manager, then I'm done for.
I choose to follow the algorithm approach too. Even though it's BS.
I also have it set to 2FA with google authenticate, so I need to have my phone everytime I log in. It takes longer to login but its worth it
So even if my password were compromised by a keylogger / brute force, you would still need to have access to my phone.
I don't use lastpass on my phone so that's not a nonissue for me. I don't link my phone to my computer at all (airdroid, teamviewer, etc). You would need to have
- My master lastpass password
- My unique phone password and my phone
Both events are kind of unlikely to happen. I worry more about lastpass leaking passwords than me being hacked at any point, since this is the major disadvantage of using lastpass over keepass.
lastpass is nice since I can just make autogenerated throwaway passwords and have a way to take notes on passwords I change over time
That's why I like using LessPass (even though people talk a bit of shit about it whenever it's mentioned on HackerNews). I have a single master password, the rest of my passwords aren't compromised if I accidentally expose one of them, and I can log in to any site from any device with a browser. Of course, use 2FA when you can, but it's nice to have a secure first layer of defense.