Regular reminder that new users in general don't care at all about the security of your site. Most of your signups are not going to generate and store a secure password "just to try you out", as evidenced by the most common password here "123456". If you force people to signup to try your site/app, many (most?) of them are going to use a crap password. If you're _lucky_ that'll be 123456, and not their email/facebook…
Emailing a single-use "sign in link" to a user (Slack calls these "Magic Links") is the way forward. Yes, it move the single point of failure to the user's email account, but expecting the regular user to use (and remember) unique passwords for each service is impossible -- they simply won't do it. Plus, when/if your service is breached, you won't compromise all their other accounts as well.
This isn't even that greater of a concern; it currently is in 99% of cases the method for password reset anyhow.