Recovery codes

Please can I ask a quick question about recovery codes: I think I must be misunderstanding something as it seems like this would drastically reduce the security of the data stored in my vault. If I create a recovery code I need to store it somewhere, presumably in a password protected document on my computer or in the cloud, so that recovery code is only as secure as the password I use to protect that document, is that correct?

Many thanks, Cath

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