Over in area51 a debate is going on about this:
http://discuss.area51.stackexchange.com/questions/21958/why-a-proposal-for-identity-access-management-makes-sensehttps://area51.meta.stackexchange.com/questions/21958/why-a-proposal-for-identity-access-management-makes-sense
If you read the password-management tag here on SF, could you weigh in on the discussion?