Thank you for submitting homework task-2 in crypto-academy.

You should safe it somewhere offline too. Copy down the keys in a paper and keep it somewhere safe and I've copied it on many papers and saved it so I can access it.

Break it into 3/4 parts, laminate it to make it durable.

You should know the real importance of Mnemonic key or Private Key or Keystore keys. It's so important because without it you can lose your account.

If you are using the Keystore file to recover then you have are to enter the password (set by you in the previous installation). If you are using Mnemonic key or Private Key then you don't need a password to restore a wallet.

Keystore File+Password(set by you) ~ Private Key