Depends on the bank. Some places take it more seriously and require you provide an ID every time you access the box. Ask around.

I still think a safe deposit box at the bank is safer than the average person's home for secure storage. The box is much less likely to be impacted by natural disaster and random theft -- who has a safe at home (and most home safes can be broken into in minutes)? Way more likely your hour gets robbed or your friends/family lose the backup you gave them.

Your bank has no idea what you have in your box. Your box status is not reported to the government. I think if you're under IRS investigation, they will freeze your bank accounts and also your box. But that is an extreme edge case... this is a noob guide right, not protecting the person for intense criminal prosecution.