In this day and age, nearly all instances of password usage can be replaced by public key cryptography for a vastly improved user experience. And, of course, for a net gain in security.
There's a significant legal difference between keys and passwords in the US: you can't be legally compelled to divulge the latter. And I imagine that based on the principle of non-self-incrimination in other countries' laws, it may very well be very similar in other countries as well.
I hate passwords altogether.
In this day and age, nearly all instances of password usage can be replaced by public key cryptography for a vastly improved user experience. And, of course, for a net gain in security.