Passwords are awful UX design solution. The users have to think of and remember some meaningless phrase to get the service they really needed. If you use easy password, your account can be hacked. If you use difficult password, you won't remember it in a week.
For some people remembering a password or login might be especially difficult.
You can use software to generate and remember passwords but all of them will be lost if you reformat your drive. Some of password managers are proprietary, non cross-platform and some would upload your passwords to the so called cloud so NSA can look at them too.
In any case your passwords can be easily compromised when your PC is infected or you use somebody's else device.
What we need is to get rid of this obsolete system. We need hardware authorisation key (that could look like a real key) that can be used for both registration and logging in and would generate and securely store private keys for all used services. Such device should use strong crypto, should not allow exporting private keys, update firmware or operate without user confirmation.
I think such kind of keys will appear sooner or later, they are superior to passwords and password managers and easy to use but I am not sure that they will be open source, cross platform, and backdoor-free unless we do something in advance.