Because you can store non-passwords in there too.

Secure notes, your own signing certificates, keys, root CAs, and specific self signed certs you've accepted for SSL.

Still, none of that means anything to the average user. Searching for "passwords" in Spotlight should also take you to your passwords

Make an alias to Keychain access. Name it "Passwords" and have that a directory that is indexed by Spotlight (the Utilities directory under Applications where Keychain Access is found works fine).

This will then show up in the launchpad. https://i.imgur.com/IRPOMC5.png

Searching for 'pass' in Spotlight does bring up Keychain access - as that's in the apps list of Keywords... however the list of apps is way down on the scrolling https://i.imgur.com/KFUC0G0.png - it found 'password' as a string in 100 python files that I had to scroll through first.

> Make an alias to Keychain access.

Sorry, but that also doesn't mean anything to the average user. If anything it's made it more complicated for them—they will remember to type in "key" before they learn how to make an alias

That I don't have an issue with the word "keychain" doesn't mean it's not bad UX for the average Mac OS user

Specifically, what functionality would you like?

If you do control-space (to bring up spotlight) and type in password, what do you want it to do and what is missing?

If I type in "password" I get a bunch of results that aren't what I need

My wife asks me weekly "honey, what's that word I gotta type to see my passwords again?"