I readen lot of documentation and spend hours on understanding these bip 138 concepts but they are pure technical term that a casual user like me won't understand however 30 CC for the link

I think there's a bip (BIP 138) that is doing something like this. 

 https://github.com/bitcoin/bips/pull/1951

Scoresby

Currently, there is no account recovery path. Your encryption key is derived from your  passphrase, and neither is ever transmitted to or stored by the platform. If you lose your passphrase, we cannot recover your account or decrypt your vault data.

That said, you've raised a good idea. This could be an opt-in feature which will allow the user to enroll their hardware devices as recovery keys.

bitcoin

XYZVault - "we can't see your data" vs "we won't look" which one matters to you?

xyzvault

Currently, there is no account recovery path. Your encryption key is derived from your  passphrase, and neither is ever transmitted to or stored by the platform. If you lose your passphrase, we cannot recover your account or decrypt your vault data.

That said, you've raised a good idea. This could be an opt-in feature which will allow the user to enroll their hardware devices as recovery keys.