That's probably true, but perfect can't be the enemy of good. Getting everyone who currently uses the worst method (a single global password) to use a better method means that better method has to be easier than that, and as things lie right now, most security researchers agree that the method most likely to succeed is removing roadblocks, both client-side and server-side, to make password mangers even easier and more secure (whether you want to store it locally or not is really up to you, and again, it is already an option). We're not talking about people who already try to stay secure, or care about the exact details. You and I already know we care about security and do our best, presumably. The crucial thing is to onramp Bob Q. Public, the middle manager whose password on everything is rover73 because he loves his dog, and any solution more complicated than remembering one password and clicking one button is going to be too much change for him to get around to doing it