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So now an attacker needs access to both the hacked DB, and your physical book.

I think that that format acceptably blocks the two most dangerous groups for a persons privacy: tech savvy remote hackers, and tech inept local snoopers.

Remote hackers are tech savvy, but probably don't have physical access to your house and don't care enough about a single user to get it.

Local snoopers are probably not tech savvy, and therefore probably won't have access or know how to find a hacked database.

If there really is a tech savvy local snooper, they will know they can just install a keylogger onto the computer that they almost certainly also have physical access to.

That is the same problem as the proposed method in the article, as the article admits.

Well, they'd also need the codebook where you store the passphrase to get the other half of the password.

So if you change the master password regularly, they'd need to hack a database in that time window and steal your codebook. I highly doubt anyone would put that level of effort in.

I kind of expect that if a determined hacker targets you (or me) specifically, we will get pwnt. The tradeoff is in how determined the hacker is and what the payoff is.