Imagine a blockchain network where users private keys can change passwords randomly to make a transaction and only the original wallet owner can see the code, something like 2FA idea integrated in the blockchain itself 😅 don't turn me into a laughing stock I am just looking into any new possibilities.
You haven't communicated! With a private key, you can spend a bitcoin locked on your wallet address on the blockchain, you don't need a password to authorised or sign a transaction though, for safety, you may want to encrypt your private key with a password so that any bad actor wouldn't have access to your wallet or when they try to export private keys from your wallet.
You may also want to use a 2FA (two factor authentication) to co-sign a transaction from a multi-sig wallet, it is just an extra security feature but it is more complicated than an ordinary wallet, Electrum
[1] has that feature, you can check it out.
NOTE: Your coins are not stored in the wallet, they are on the blockchain. Your wallet is only used to manage and store private keys.
[1]
https://electrum.readthedocs.io/en/latest/2fa.html