However, millions if not billions of people rely on password managers to store critical username and password information for
their bank accounts, email account, Amazon, ebay, Apple and Android accounts, crypto exchanges, school and work emails, etc.
PMs also store all your personal identifying information including name, address, phone number, etc.
The people who still go on with trusting their passwords to important application and access to banking apps on a password manager are people who have not experienced or persons who have never been victims of a hack. A password manager is never completely secure to me, I cannot really trust them because I know it will be very costly if I do trust them with all my passwords, and then they get hacked.
The average person probably has at least a hundred different online passwords which would be virtually impossible to keep track of
without a password manager.
I think a smarter approach is not using very different passwords, you can have a particular password pattern, and then make little variations on them based depending on the app.
I have never heard of a password manager being hacked into so they seem to be extremely secure.
If you have not heard, it doesn't mean that it has not happened and if it has not yet happened, it does not mean that it cannot happen.