I have an application which uses UUID as an authentication. The UUID is stored as KeyChain inside my iOS application. When I post the UUID, I use https. Is there any way to obtain the password, unless you have physical or remote access to the device? Is this approach strongly discouraged?

Why is this question not a duplicate:

His question addresses to use the UUID as input in a text field, while my question is to use UUID as authentication after a login complete state. If you type it in a text field, the user has to know the UUID. (Talking about my application) First of all, the user does not know his/hers UUID. Second of all, the UUID is encrypted inside KeyChain.