The TL;DR is even with 100k+ iterations of PBKDF2 an attacker can crack a password with 40 bits of entropy in about 71 days if they had access to 200 modern GPUs. For comparison if there were only 1 iteration instead of 100k the same type of password could be cracked in 61 seconds.
50 bits of entropy changes things a bit. Now it takes 1 year instead of 71 days but if you're a high value target they can just ramp up the number of GPUs to reduce the time.
The difference between 40 and 50 bits of entropy for a password look like this:
40 bits: !climb33
50 bits: ClimbS1@
40 bits: any 9 lower case letters
50 bits: any 11 lower case letters
The takeaway I got is you're probably ok if you have a really good password (150+ bits) with 100k+ iterations but if I were using Lastpass personally (which I'm not) I would absolutely re-roll everything and never use the product again. I personally use a command line tool called `pass` which stores everything locally. This story interests me though because I am mildly involved with someone who is using Lastpass and I suggested they re-roll everything. I'm happy to see someone did the math, it's the exact information I wanted to know.The podcast show notes are on page 6 which has more numbers and practical examples: https://www.grc.com/sn/SN-905-Notes.pdf