Comment by conradev

Apple moved it there in macOS Sequoia, from Utilities, because they were worried it would be confused with the Passwords app. Apple reminds you that you're actually looking for the Passwords app at every turn:

  Tip: You can find all your passwords, passkeys, and verification codes in the Passwords app on your Mac.

https://support.apple.com/guide/keychain-access/what-is-keyc...