I have become quite a password-obsessed individual. I password-protect my HDDs, my files, and now even the BIOS/EFI on the various systems I own.
But I have discovered that if you forget your BIOS password, it is easy (enough) to simply reset it/disable it via physical access to the insides of the machine, or in some cases like the EFI of modern Apple hardware, Apple can even override it via some 'master key' overriding code if they want to, without even needing to reset it at the physical hardware level (which is pretty disturbing).
So, with this in mind, what use is a BIOS/EFI password then?
What threat model is it effective against, and are additional measures (like storing the laptop in a safe/locking the desktop case with a key/padlock/combination lock, and maybe some robust 'intrusion detection' notification or logging system) recommended to make this extra password more worthwhile every time you restart your computer?
Is it a little bit like the lock on the front door of the house, still having its place even though the glass window right next to it can be smashed by a determined burglar who wants to get in anyway?