I had my password manager compromised by a business partner. I added him to my 1Password account and then, in a play for control of the company, he attempted to remove me. Lesson learned: don't try to save money on password managers. If all of my 2FA code generators had been in 1Password I would have been truly screwed, but in a stroke of luck I had been paranoid enough to use a separate app for 2FA codes.
I'm sorry this happened to you, but it highlights another very important factor. Don't keep all keys to the kingdom on one person. Always divide and conquer. Keep power distributed between multiple people. I worked at a company of 500+ people, and I'm sure the CEO didn't have access to all the IT people's stuff. They only cared that everything works and meet their quarterly goals. Shall the IT person feel like sabota…
If you’re on a small team (~5 people) the person obsessed with access controls cannot be trusted.