You've reminded me of something I found interesting regarding passwords in China. Often, faced with minimum password standards, a user will choose the first Romanised (Pinyin - used for keyboard input as well as phoneticisation) letter of a word in a phrase, an example being 我看懂中文你呢？ which is Romanised as 'wo neng kan dong zhong wen ni ne?' or to take the first letter of each word 'wnkdzwnn?' (This phrase, meaning 'I can read Chinese, can you?' a somewhat unlikely candidate for usage).

I doubt the security, given the prevalence of z, w, n, etc that occurs in Chinese (Mandarin) words (and likewise in other languages), doubly so because of common phrases that a lot of people would likely pick, and would heed against such a policy.