They would have to be stored on your computer, which defeats MasterPassword's working principle. Since passwords in MasterPassword are mathematically generated, it is impossible to import other custom passwords into master password. If you chose to uninstall the addon, you'll just have to remember the passwords you've generated, or import them into another password manager. The MasterPassword addon can of course co exist with other password managers and will stay out of your way until you click the MasterPassword button.
If your computer or browser is hacked, solutions where the password is stored can give away all your passwords! Similar dangers exists with cloud based solutions. This is in clear contrast to many other password managers, like Firefox' built in password manager. The site password is rather generated mathematically every time. One of MasterPasswords strong points is that neither the master or site password is stored anywhere. You can find app's for Ios, Android, Windows, Mac and Linux. The MasterPassword algorithm is standardized. And it is impossible to guess the master password from a site password. When you need to login, this addon will complete the site password for you. With one master password, a unique one can be generated for each site.
If that password is reused on other sites, the hackers will have access to all your accounts. Unfortunately one of the sites you use will sooner or later be hacked, and passwords leaked. You typically have to login at many different sites, and remembering a different password for every site is hard. One of todays main security challenges on the web is passwords.
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