I think what you may want is a stateless password manager. You can choose to memorize a single or multiple master passwords, depending on your security needs, and this stateless password manager should always spit out the same deterministic password (with requested parameters of length and potentially characters). I find, just as you, that there are more points of failure with the aforementioned password managers, which keep state, encrypted or not. If your only HDD with the DB fails, what good is the encryption. Also they are quite cumbersome, especially if you travel.
The biggest risks with stateless password managers is using a weak master password, or exposing to a keylogger.
An example that is free and open-source is LessPass, available as a browser, plugin, cli, or even phone app.