Hello ThxForTheHelp! 👋
Thanks for the question! Using Windows Hello to unlock 1Password doesn't replace your account password and Secret Key, instead 1Password generates a unique, encrypted secret for Windows Hello to access in your computer’s memory. You'll still need your account password from time to time if Windows Hello expires. And you'll need both your Secret Key and account password to add your 1Password account to a new device.
Passkey unlock for 1Password replaces both your Secret Key and account password so that you can unlock 1Password using just your passkey. You'll store that passkey somewhere safe, like the native credential manager on your PC, and use it to unlock 1Password using biometrics. When you need to add your 1Password account to a new device you won't need to remember an account password and Secret Key, you'll just need your passkey and confirmation from one of your existing device where you're already using 1Password.
Passkey unlock for 1Password is currently in beta but we're very excited at how it'll make signing into 1Password easier. You can read more here:
Let me know if you have any questions. 🙂
-Dave