If filesystem access is a legitimate concern, you have bigger problems. Even if passwords were secured by FIDO or similar, session tokens are not. If you compromise a computer, you can compromise web sessions. There is no mitigation for this. Shame on the author for attempting to create panic when far more productive security can be achieved elsewhere.
A hijacked session is bad, but nowadays not nearly as bad as a leaked password: - Sessions can be linked to a user's location and/or browser finger print - Sessions are short(er) lived - Sessions can easily get invalidated (e.g. device wide logout) - Almost all critical actions are behind additional security (e.g. can't change password without 2FA or change billing information without confirming password and/or 2FA i…
Does this still really happen??
I've given up that malpractice years ago.
Unfortunately it's very hard to gauge this in our company but I would hope users take their security training to heart.