Ok, like I mentioned there are open source password manager like bitwarden whose source code is regularly audited and which can be verified by anyone.

Do you trust the correct implementation of TLS encryption when your credentials are sent over the internet? What difference is there with trusting the correct implementation of password encryption?

Ultimately there is negligible risk if an attacker gets their hands on your encrypted data if it was encrypted correctly. Using something like bitwarden which is open source and regularly audited by external parties give you a pretty strong guarantee this is the case. Storing the vault in the cloud is much more convenient when needing to access passwords from multiple devices.