Earlier quoted context omitted.
I was unsure what this Recovery Key was: https://support.apple.com/en-us/109345 It is kind of scary too — lose the key and no one can get you back in to your account.
You can setup a recovery contact incase you do loose the key. I just set that up with my partner and the chance of loosing the key and both of us losing all of our apple devices I think is fairly slim. I also stuck that key in 1Password (sure it's less safe, but if my 1Password was breached I have far bigger problems than this key being retrieved). Then keep a hard copy in a safe. Been contemplating sending my parent…
A friend of mine who was (maybe is? he knows I'm not a fan so we don't talk about it much) big into crypto stores his secrets in similar safes with trusted friends and family around the country. I think it's a good idea for things like this tbh.