No, this isn't accurate. The key that is used to decrypt the hard disk is stored inside an area that is encrypted with the passphrase and/or keyfiles. That may

No, this isn't accurate. The key that is used to decrypt the hard disk is stored inside an area that is encrypted with the passphrase and/or keyfiles. That may use a different algorithm than the actually OTF encryption to the rest of the disk. Thus, you can use a short key with a LONG hash time and protect a LONG key with a short encryption time and voila. I mean, that's how this service works anyway; you send it the volume header and it attempts to crack it. If it can read the contents of the header, then you can read out the key used to encrypt/decrypt the volume itself.