We are all getting excited, and probably even buying more, but we've forgotten that we need to be more conscious of our backup. Most of don't even back up properly, we just screenshot our phrases forgetting that screenshots can be seen by others and even be deleted by anyone. Let's be cautious about our backups, check them if they still exist where you kept them and be sure if you need to replace them.
It all comes down to type of wallet every individual is making use of, if you’re making use of custodial wallets, then you are going to be needing passwords, (in fact that one is a must for every custodial wallet). In custodial wallets you don’t hold your private keys, it’s being held for you by the third party, although other types of wallets do need passwords too, but you also have to hold your keys and it’s not being held for you. As for those keys it’s necessary that you hold the keys because if you don’t, you’re losing your money. Whether passwords or keys, all of them are important and you have to store them properly, And also use a good wallet.