This discussion pops up frequently.
The login password does NOT protect you from outside (internet) hacking. It is only for local use. For example, in my case, whilst I have a computer illiterate wife, I have constant visits from young, but computer savvy, grandchildren. It prevents them from getting nosey and doing something to my computer(s).
Looking ahead, if the computers were stolen, it would be too easy for anyone, with only a slight knowledge of computer software, to gain access. With, or without, the login requirement, this would mean , at best, they would be able to gain access to any keys I may have for the OS and and software installed.