Earlier quoted context omitted.
Password sharing is not a good idea, but sometimes or even often unavoidable.
I have the feeling that password sharing is only unavoidable in a company that doesn't care much about security. Any company that takes security seriously would, I suppose, have personal passwords as a strict requirement. They wouldn't use services that can't comply with this requirement.
In the health insurance industry, for example, many insurance portals offer one account that has to be used by a team. And, in a team scenario where all staff need access to all third party vendor accounts, it can be simpler to share the one password rather than manage 10.
For on site systems under a company's control, they can enforce the policies. But third party resources are where the limitations are. It's not the company that's minimal on security hygiene, it's the non-tech vendor in many cases.