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They have potential access to the password manager on his Mac as well.

If you use a good password manager you should have the time to reset all your password so that if they somehow manager to crack the manager all the passwords in there are worthless.

Also if you immediately ask iCloud to lock your iPhone they can't use the any of the two-factor authenticators without connecting to the Internet which would brick the phone.

Could something like LastPass help? Passwords are kept on server in encrypted form and accessible from all computers after giving one last pass.

Lastpass on the mobile app can be set up to require a password at all times. Mine locks as soon the Screen goes out of focus.

With a password manager he can use it to trigger an audit. It might not cut down the time taken to change passwords everywhere, but it will make it a lot easier.