While you guys are on this topic....

I plan on buying a Trezor in the next 2 or 3 weeks and was planning on buying 3 but it seems like this is not needed seeing as you can have more than one account on a Trezor.

Is my understanding correct in that you can have say a sort of 'hot' wallet or rather everyday use wallet (with no password) and then say two further wallets each with their own password. If one starts up the Trezor you then only need to enter the relevant password for the wallet you are trying to access?

If the above is correct, is there a limit on the number of wallets you can have on a single Trezor?