Ever since the NSA/Snowden revelations, I personally wanted to thumb my finger at the government & make their job harder to deal with myself & keep my clients data secure.
Please note, there are other password generators, like Roboform, 1password, Keypass, & many others.
LastPass is a Password Generator it adds a layer of protection because the passwords, are created at random with a unique hash on your computer. Before your password is used, it is encrypted then sent online. The LastPass Server doesn’t retain a backdoor access to recover your account. Thus, if you get locked out, you are locked out.
As an example, I used to have my passwords be a nomer of a thing I liked & a correlation of numbers I know, as many people do.
The beauty of LastPass is it’s Autofill feature once you get on a website.
The other end, if you feel the website & plugin are not enough. You can buy a Yubikey (separate device that allows you to have a 2nd level of security) Paypal has a similar type of setup if you request it.
Getting Started with LastPass
Other tutorials are here
A description (10 minutes long each on how secure LastPass is) (1-4)
Cryptography of LastPass
Last Pass Explained by Steve Gibson of GRC Corporation
In short in the end, depending upon your job, it is vital that you secure data. It is better to have lost data that is unrecoverable. Then for Personally Identifiable information to be misused.