Quote from: GeekWisdom on Today at 03:08:16 AM

I setup 2 accounts, one for LastPass and one for 1password. Inside each of them, I stored the backup phrase for 2 wallets. The 1password one is bitcoin, and the LastPass one is Ethereum.

This is not a bad idea, but it would be much better if you offered bigger Bitcoin rewards, that way you would attract more attention and give more incentive and motivation to hackers.

Quote from: GeekWisdom on Today at 01:41:00 PM

The question remains just how long will it take for someone to find out the keys

It will take less time, more money you offer on this addresses.
Maybe you can send more coins each month to keep interest alive.
I recently saw interview and video by Joe Grand aka Kingpin who hacked Trezor wallet, so maybe you should contact him and heard his opinion about this.

I would not suggest using any of this for keeping your password, even if they can work fine for most people. both LastPass and 1password have their own flaws.
Best thing you can use today for your passwords is probably open source software KeePass.