I think Bruce's point is that getting people to remember long, frequently changing pieces of weird text is hard. The risk of everyone picking 'password123' is m

I think Bruce's point is that getting people to remember long, frequently changing pieces of weird text is hard. The risk of everyone picking 'password123' is much higher than everyone writing their passwords on a wallet. It is highly improbable that someone stealing your wallet knows what that piece of text on a paper is for