The keychain is not captured with the backup and the password can be recovered from the Info.plist file

The clear text password will be cached in the user’s keychain and can be recovered searching the user’s keychain

The data is encrypted using a strong key but the password is saved to a file which is encoded using

Base64, which is easily reversible

The backup file is encrypted and a copy of the keychain is saved in a local file which may be attacked using brute force tools