How losing a private key is different from losing a password? Memorable passwords should be either an exception (like master passwords) or a device-specific th

How losing a private key is different from losing a password? Memorable passwords should be either an exception (like master passwords) or a device-specific thing. And private keys do not have to be locked to a HSM. If this really matters, private keys can also be memorized if they were derived by a KDF, using a seed phrase.