There is no full stop there… A password that is sufficiently long will never be cracked no matter the hashing algorithm in use. Passwords are easily transferrable and can be communicated to a third party in the event of an emergency. They also provide tunable security, where you can trade off security for convenience if you want.

Some (not all, I know) passkeys are tied to a device. Stolen device means stolen passkey, and it’s potentially very difficult to recover from that. Passkeys are also locked to a certain standard, passwords have no such restrictions.

Tbh I don’t understand the move for passkeys replacing passwords. They should become the second factor when a user wants additional security. They’re perfect for that niche.