I just had a little thought that might improve peoples protection against losing characters, like say if someone were to share their account with their friend (I'm aware that its against the rules, but people do it anyways.), a lot of times that "friend" may turn out bad and harm their account as to delete a character or multiple characters on that account, I think there should be a way to prevent this for people who do make the mistake of sharing their account with people that they should've never trusted, so a good idea that came to me is, instead of having to type ABRACADABRA in order to confirm the deletion of a character, they could type their master password to delete it, a good safety to their account, hopefully the said person in that scenario would have two different passwords, even if not I think it'd be a good safety measure to people.
I like this idea; a few years ago when I was younger and I wasn't aware of the rules, I shared my account with someone and they changed my password and threatened that they would delete my wizards if I didn't do what they said. They ended up keeping my account and deleted 2 of my wizards and then took pictures of the wizards that were left. I blocked him and just made another account. I didn't know about the possibility of getting my account back with KI's help so I didn't even think anything about it. This could be a good alternative to the letter code
The reason why KingsIsle has players type in a really long word is so you can't delete your characters by accident. Having to type in your master password or regular password may be a little too intuitive. If you happen to press the wrong button, people could enter their password easily by mistake (I've done it in other places as a habit, lol). I could possibly see the number of accidental deletions increasing this way.
I'm probably beating a dead horse, but it's worth mentioning: Your friends today may not be your friends tomorrow. Life changes, people change, and disagreements can happen. Be careful with your account information and trust no one with that kind of sensitive material. ;)
Should you make the mistake of giving it away and something happens, there is nobody to blame but yourself. I don't think it should be up to KingsIsle to safeguard against something they repeatedly tell players not to do.