Worse are the ones that let any length input but only read the first ten characters or so.

I haven't seen those in a while now. For random sites you should use a password manager anyway though, not try to remember a thousand passphrases. You're going to end up reusing passwords if you try to memorize them all, or else you'll have to write some down and then you are already using a password manager :). Or you use a system and then 1-2 cracked passwords/-phrases will likely break them all.

Note that this advice is for the average, common site. If you have special considerations for your bank, broker, or similarly high-value sites, different advice might apply of course (but this is not really the place for that and there are already enough recommendations online).

Neither? As the linked comic says, it's "correct horse battery staple".