Also, if all those combinations were stored would the software use separate salts for each one? Well designed software would but I suspect anyone intelligent enough to consider that would also raise a loud voice at the meeting where this feature was being discussed. They probably use a common salt and if it's known how long (at most) each partial password is (say 5 characters) it's super trivial to generate a rainbow table to break it.

Honestly, even if the salting was done independently per chunk, the fact that you know each chunk is under 5 characters long massively reduces the time to generate a rainbow table to verify the password, even more so if the entry field only allows 36 character entry.