Then your password text won’t look like a password, but as a meaningless text inside the mess.
It can be on any handwritten paper, such as outdated invoice, old unused reminders or notes, etc.
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If you absolutely have to write down a password on a physical medium, sure. A much better alternative would be to use a password manager that lets you sync passwords between devices.
I personally recommend Bitwarden. Their free version is one of the better ones available and they are very transparent about the security measures they take.
That is a great tool, I use it too.