Yes at first you think that your password must only known by yourself. Make a secret to anyone.  Only you can have it.  But think and think that there is a question that in your mind.  When you die what happen to your coins if you only know your password,  if somebody or anyone knows your password?  So i must suggest that,  i think youst trust one person to know your password so if you died,  your coins cannot be wasted.