Passwords are, in many ways, a failure as a security measure. Weak and compromised passwords are one of the top ways that users, systems, and data are compromised. Think of the online accounts for your own small or medium-sized business and how much damage a criminal could do to you with access to them.
In the meantime, users and businesses are compromised every day because of weak and breached passwords. Attackers take the credentials stolen from one service and use them to attempt to log into other services. This is called credential stuffing, and the consequences can be severe.
You can follow best practices (not reusing passwords, using relatively long and complex passwords, etc.), but with the assistance of a password manager, users can more easily follow best practices.
Does your company require employees use a password manager?