Exactly, this is one style of mnemonics and even recommended by Sun Microsystems in their documentation back in the gory daze for creating complex passwords simply.
For example only:
Take something personal - Being a proto-punker musician from the 1970's and 1980's before returning to school, I have a thing for 1950's and 1960's music ( I'm listening to Chuck Berry as this is being previewed, even drunk! -- Hail! Hail! Rock 'n' Roll! ).
Take something relevant - So I may use a line from MC5, as they did a cover of "Back In The USA" then throw in some modified h4xx0r with an opening/closing bracket set and use a pipe/slash/something to break the lines.
Take something environmental - And come up with <j96h|f0577USA> for my backup servers ( "jet propelled back home ...." ).
It is child's play to keep a large set of complex passwords in your head. Cisco has problems with the above, but hey, my life sux, too, so who am I to complain. I'm still upset about CBS and Jack Benny.
TeeHee. I was more of a Velvet Underground guy.