Comment by lucb1e

indeed. Additionally:

- if your secret leaks and you don't know it (or you do know, but you need some time to change it), the attacker not only gets the snapshot of your password manager but also can derive all future passwords you'll generate, or past ones you long forgot about

- there's no way to know what you've entered before, since it's stateless. With data stored in a manager, I know what username I used and can associate other data. If your uniqueifying input is the domain, and let's say HN would become hn.yc or whatever and you visit it again in ten years, you'd have to remember that hn.yc accepts the password of what you entered as news.ycombinator.com

I have to admit though, hash(name+secret)=password is so simple and beautiful that it draws IT people like a fine artwork draws visitors. But for me, that doesn't outweigh the practical issues