Sure, that would also work and was likely popular with people who were confident they would not lose the cipher-text. See the "Brain Wallet" tab on bitaddress.

Sure, that would also work and was likely popular with people who were confident they would not lose the cipher-text. See the "Brain Wallet" tab on bitaddress.org to see how a password-based secret key can work (please don't actually use this). https://www.bitaddress.org/ https://www.bitaddress.org/