I use a web service which does this. It's mildly annoying having to switch apps/tabs just to login, but hey at least it's not another password to remember.
You'll be surprised how many diceware passwords you're able to remember.
It can go two ways depending on your preferences: use a shorter passphrase generated from a large dictionary; a good one can be obtained from 1password:
Base password plus company name or initials. One password mutated into infinite variations that are easy to remember. This has been working fine for me for at least 15 years.
I think their point is that no matter how secure your base password is, once one site leaks it, the bad guy basically knows your password to every site.
I have been using the internet since the 90s, my Hotmail account is 23 years old and I have never lost any of my accounts. I think it’s working quite well in my experience.
or it just continues working for another 23 years. Do you have a password system that has worked successfully for as long? Just because you “feel” that it’s not good doesn’t mean your feelings are correct.