As previously stated, the process of creating a private/public key is so complex that the theoretical possibility of collision exists only as a mathematical probability and is practically equal to zero.
That's not quite right. The process of creating a private/public key pair is not that complex and is actually pretty straightforward. The process of creating a private key is as simple as picking a random number between 1 and
n-1. The reason the chance of collision if effectively zero is simply due to the sheer number of possibilities we are dealing with, as opposed to any complexity in the process.
If the software is open-source, you can be confident that hundreds or thousands of developers and programmers have already tested it
This is not true. Open source software is a must, but just because it is open source does not guarantee safety. There are plenty of open source pieces of software, including wallets and Bitcoin Core itself, which have had critical vulnerabilities in them which have gone unnoticed for months or years.