The master private key can also be derived from the hash of passwords that are memorized. The key idea is that this passphrase is used to derive the private key and if used in HD wallets, this can result in a full HD wallet that is derived from a single memorized password. This is known as a brain wallet. This method is prone to password guessing and brute force attacks but techniques such as key stretching can be used to slow down the progress made by the attacker.
Brain wallets
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