I agree with this 100%. Passwords are awesome. I've never had any security issues related to passwords. They are perfectly secure for almost everyone.
Just because a tiny handful of multi-millionaires feel that passwords are not secure enough for them, doesn't mean that the rest of us should be forced to use a dumb alternative which surrenders control to some third party.
Rule-based passwords are great. I never had any issues. If the rule is secret and complex enough and maps to a different password for each service, this is very secure.
I recommend having a separate rule for different security levels. I have 3 security levels.
- For low security, I use the same rule on 100s of different websites. I don't really care if they all get hacked. (Actually I might use password manager for that security level because I'm lazy and I don't care if some employees at some big company install a backdoor in the password manager steal that password. I'm willing to take that risk.).
- For medium security sites, I use the same rule for around 5 different, highly trustworthy sites... There are literally only 5 sites which I consider 'medium security'.
- For high security, I memorize a unique password or passphrase for each service. I only have 2 services which fit this description of 'high security' - They're financial in nature,.
It's not difficult at all for me to memorize 2 rules and 2 passwords. I don't need to trust any third-party piece of software with my passwords except for my operating system and my browser (both of which are open source BTW).
The idea of password managers is idiotic... You're trusting a single entity with all your passwords! You're assuming that they will never introduce any bug in their code which will leak your passwords to their employees. You're assuming that these companies will never hire malicious developers who will add backdoors to the password manager's code to steal your passwords... No foreign state will try to hack that service... Hackers will hack into gas pipeline companies, but they won't try to hack a massive centralized repository containing everyones' passwords? Think people, think! It's basic common sense.
[EDIT] BTW, the fact that this comment is being downvoted suggests that there may be a corporate agenda behind moving everyone to centralized password managers... Why would the powers that be want to do that?