Earlier quoted context omitted.
The article inaccurately describes generating a password hash & using it as "storing a password".
My point is simply if you can avoid storing user credentials, avoid storing their credentials. For many services, the most valuable data they contain happens to be the user credentials that the service uses to authenticate the identity of the user. If you assume that users share their credentials across multiple services, if your system is attacked, and you improperly stored their credentials, you've caused way more…
Generally: Being able to deploy malware through a site users trust so you can attack them directly, en masse.
But the password hashes are a good runner-up.