As long as your password manager isn't something that can be hacked or spied on by anyone, that should work.
I only trust open-source password managers.
https://keepassxc.org/ is my favorite.
I use that too for it's password generation feature. But even that may scare people off. You can also suggest winrar or winzip which can add a password to a txt file and wallet backup files. Again, I think the depth to which this subject/paranoia requires your focus is proportional to how OG you are and whether or not you are a public bitcoin advocate. If people know your name and face and that you likely have >1000BTC, then yes you must go to great lengths exploring this threat space. Noobs can just run a virus scan, create a wallet, and write everything on paper. Greatest threat, imo, is social engineering or losing/forgetting how to access, NOT hacking or wrench attacks.
I love Lopp, btw. His guides and sites continue to educate me daily. But I would have gotten into bitcoin earlier had I not gotten cold feet in 2017 when i was reading all this paranoid threat analysis stuff. Scared me off.