Recovery code vs Emergency Kit

I'm a new user and still figuring 1password out, but I think that the way it works is:  Your data is encrypted everywhere (on each of your devices and on 1password's servers) and can only be decrypted with the "secret key" that is printed on your emergency kit page.  Your login credentials enable you to log in to 1password.com and to unlock the 1password app and browser extension.  The recovery code enables you to regain access to logging in and unlocking.  So, yes, you need both.