A simple solution to the Private Key-Loss Conundrum
Statistically, over 10% of users forget or lose their passwords or private keys for encrypted data.
This is not a big problem if there is a password or private key recovery option, but it becomes a disaster when there is no way to recover the lost or forgotten password or private key.
To avoid such disastrous situations, users may use a simple four-step approach to generate easily recoverable private keys based on dynamical passwords.