It is a single password/pass phrase. This makes it simple to manage. You can easily create a simple paper and geographically-redundant system (e.g. using a one

It is a single password/pass phrase. This makes it simple to manage. You can easily create a simple paper and geographically-redundant system (e.g. using a one-time pad) that means you can keep the passphrase in the open, for example, in your wallet or purse. Password managers are the only way to go and eventually all password/passphrase users realise this because they end-up emulating these systems anyway (e.g. using extemely poor entropy additions to their existing passwords for different applications).