Thanks for your response Allan, really insightful :)

And while I agree, but a lot of people might not want to do all these things for the multiple accounts that they have. Personally, I wouldn't want to spend this much time when creating a password and it might be even more painful when I'm changing passwords every few weeks.

As for the password manager DB being hacked, there are 2 things to consider:

1. Even if the master password is hacked, your vault is encrypted and it usually uses a combination of server+client side key which would be almost impossible to get

2. Use an offline password manager and your file is with you and no chance of being hacked :)