Hardware wallets
Forgetting or losing track of your password or secret passphrase (12/24 seed words) in crypto, means your money is gone. This also means that if someone else knows your secret passphrase (12/24 seed words), then they have your money. In cryptocurrency, your coins are never really in your possession, they're always on the blockchain, on the Internet. You simply have knowledge (secret passphrase) that allows you to spend the particular coins that are "in" your cryptocurrency wallet.
Essentially, when you send cryptocurrency, you are just making a statement or publishing, a statement that you are assigning the knowledge of how to access, a particular amount of cryptocurrency, to someone else. If you really look into it, transacting in cryptocurrency is basically just speech, and is protected under First Amendment in the US Constitution.
Anyhow, because cryptocurrency is basically just publishing knowledge on the blockchain, you need to protect your secret passphrase (12/24 seed words) extremely well. There's a lot of tools to do this available on the interwebs, but some are better than others, and some involve splitting up your seed phrase into multiple pieces, such as Shamir's Secret, and then you will only need 2 out of 3 pieces to access your secret passphrase. Using Shamir's Secret method you could have 3 bank safe deposit boxes and have 1 part of your seed phrase in each 1, and then if one of the banks goes rogue and trys to steal your passphrase it doesn't matter because you still have 2 parts in the other safe deposit boxes, and that's all you need for your 2/3 Shamir's Secret involved passphrase. Also, each bank would have to collude together and know about Shamir's Secret to figure out your passphrase.
One important tool that can protect your secret passphrase from hackers and compromised computers is a hardware wallet. I prefer the Ledger.com hardware wallets, but there are some others like Trezor.io that are pretty good also. The hardware wallets hold your secret passphrase (12/24 seed words) in a miniature secure computer vault. So when you want to publish on the blockchain, or send some crypto; you just connect your hardware wallet to your computer and then your computer will ask the hardware wallet to sign each transaction before it's broadcasted to the blockchain. This way if your computer is compromised you're secret passphrase is protected.
But what if you have a hardware wallet destroyed or lost? It's not a big deal because it was just protecting your secret passphrase (12/24 seed words) that you have stored in a secure place. Some people recommend engraving your secret passphrase on stainless steel that way it's safe from fire and water damage, but it's best just to buy a metal backup device when you're ordering your hardware wallet, to be extra safe.
Enjoy