Oh no. You and You alone figured it out without knowing any technical information or anything about cryptography/encryption. I guess Bitcoin is really dead now.

SMH


Look into what public and private keys are and how they work. You aren't sending a clear text password.

Hardware wallets "can" be compromised, which is why you never buy from resellers and only direct from well known manufacturers.

Paper is the safest, as all encrypt/decrypt is client side and only the address is public. Just make sure to disconnect from internet when generating.

Personally I keep most on coinbase and use 2FA on an old phone with no sim card.