The point's to remember the phrase, not the password. :-) The password is trivially reconstructible from the phrase.

Actually - since any good programmer won't put a maximum length on their passwords, I wonder if it'd be better to get users into the habit of picking really long phrases as passwords. Type in "Haddock: Built because I want webapps to make passwords fun" in the password prompt. Maybe that'll just take too long to input though, each time you want to login.