I bet he did lie and its not 64 characters. He was probably saying that to make them not try to break his password12345.
Disk encryption tends to use something like AES. Key derivation is usually built on top of hash functions, but a 64-character password has more bits than most people use for AES, so key derivation might not matter.
The implications for AES aren't known yet, beyond effectively reducing the key length[1]. You're probably thinking about prime factoring and RSA, which will be weakened by quantum computing.
[1]: https://security.stackexchange.com/questions/116596/will-qua...
you could argue that things encrypted today might be easily decrypted though