Chrome’s built-in password generator can be used to create strong passwords when creating new accounts. Google’s Smart Lock password manager stores these passwords on Google.com so that you can retrieve them later. Chrome does not always do a good job detecting these types of fields and does not generate a password. Chrome’s password generator and Smart Lock manager are good for most people but have some shortcomings compared to other password managers. For example, you can’t edit a password and resave the entire account and organize your saved passwords.
Source: https://www.bleepingcomputer.com/tips/web-browsers/google-chrome-has-a-built-in-password-generator-heres-how-to-use-it/