Yes, the website is misleading when it states that "Master Password is based on a stateless algorithm which frees it from the reliance on storage of secrets", w

Yes, the website is misleading when it states that "Master Password is based on a stateless algorithm which frees it from the reliance on storage of secrets", which is clearly not true. When you rely on people's brain for storage, not only it's not stateless, but you've just chosen quite an unreliable form of storage. There's also the issue of the master password being compromised, which would requires users to change all their passwords on all their websites. I'm surprised these "stateless" password managers keep being made. Either the creators really didn't notice the huge drawbacks, or they did but still want to get their software out.