Once you confirm the operation, the keychain feature will be switched off, and you will no longer be able to store your passwords and other secure credentials on the iCloud server.
Obviously, Apple does vouch for the security of this feature, which is why many users are actively using this feature for their day-to-day use.
In addition to these capabilities, there are numerous third-party programs available; nevertheless, it is recommended that you conduct a thorough background check on each of these applications before selecting to utilize one of them. Personally, if you do require this type of vault capability to store your credentials, you can just use the built-in iCloud Keychain feature on your device.
