You still need to remember one password though; what I would with children is the following: ask them to say a poem/song they remember; pick a line of the lyrics that they are likely to recall clearly; tweak slightly the letters with *them* driving the process (e->3, o->0 etc); add a little salt in the beginning (one or two characters); use that for the password manager. Proposed solution is not of exotic entropy, yet will do the job with flying colours, for most children.
In fact, they would be in good enough shape to start teaching the adults around how to do the job
Otherwise, how do we expect to have reliable videoconferencing and hard-realtime services down the road?
Heard that the next Space Shuttle is supposed to carry several Guernsey cows? It's gonna be the herd shot 'round the world.