I do agree with his point that memorizing passwords can get cumbersome, especially with different sets of rules for different logins. However, the majority of people store their passwords in their everyday browser or just stay logged in indefinitely.
The real solution to "doing away with passwords" lies in recognition technology on devices. What if my keyboard could recognize my identity and pass that along to authorized sites as login credentials? What if my iPhone could do the same? I'll defer the argument of privacy in visiting sites where you don't want your identity revealed for another time.