LastPass stores all your passwords in the cloud, and all your passwords are protected with AES-256 bit encryption. This means that even if LastPass is hacked, your passwords will remain inaccessible to hackers. Of course, you can also create a backup of your passwords and store it on your computer or any other device.

For further info: https://www.google.com/amp/s/windowsreport.com/google-smart-lock-vs-lastpass/amp/