I am inclined to the version that this word is "
climb". There is too little space between characters for the word "
clump". Otherwise, the distance between the 2nd and 4th letter would be greater.
In general, Pmalek expressed the same thing:
Between 'climb' and 'clump', I think it can only be 'climb'. There isn't enough space for all of the curves of the letters 'um' if they are preceded by an 'l'.
If only one word became unreadable (which I doubt), then could try to enter both variants of words into the passphrase. One of them would definitely fit. In this case, I would start with word "b]climb[/b]".