Although, this is exactly why I hate password managers things. One single point of failure.
No, you just need the right kind of password manager. Don't use cloud-based, OS, or ones built into products. Pick one that's local where you control the data file, like Selznick's PasswordWallet, or maybe 1Password. (1Password's recent cloud move has me a bit nervous though.)
Encryption can make data far more secure but it's never going to be 100% safe.
Well, true, as far as it goes. But if done right, no one is currently going to be able to break it, and may not be able to in the future. When these things get broken, it's usually because of some flaw, not that they actually break the encryption.
You're also assuming a perfect world where everyone uses 40+ character passwords with special characters and all the other fun. The real world doesn't work like that.
And, those are the folks who get hacked most of the time.
If you want to be secure, you do use strong passwords. And a good system uses the local master password to generate a huge hash that actually encrypts the file. So, if the file isn't being unlocked by that particular app, on that particular device, they'll be dealing with way more than 40 characters. They could use the password, 'password' and unless the thief has access to THAT device, it won't matter for the data file.
And anyone with an ounce of common IT sense these days is running a password manager and uses a unique, strong password for every service. That largely makes these kinds of announcements of little concern (unless I see it's my bank that has been hacked).
Thanks for the link. Unfortunately the lack of an iOS version makes it a non-starter for me.
There's only one browser on iOS anyway... just pick the UI variant you prefer.