3 of the last 4 places I've worked had as policy that you must change your password every 6 month.
This is because they create another problem when anyone you talk to will say they have their password and just increment a number for every password change. That way they’re not having to remember a whole new password every few months. So there’s never much of a change in anyones password during these rotations.
- abcde1 - abcde2 - abcde3 - …
However, if you use a password manager, and have access to it, I think forcing key rotation on a short schedule actually increases security. The downside of course being that most people don't use a password manager, and most people use the same relatively unsecure password for everything.