Hi @Mirai, you seem to be a little confused about how LUKS actually works, and that is causing you to misassociate some concepts as being identical.
When you create a LUKS partition, the algorithm generates a “ridiculously” long prime number. This number then becomes your LUKS key.
But wait...just how long are we talking, actually? What's the largest possible number?
6,​703,​903,​964,​971,​298,​549,​787,​012,​499,​102,​923,​063,​739,​682,​910,​296,​196,​688,​861,​780,​721,​860,​882,​015,​036,​773,​488,​400,​937,​149,​083,​451,​713,​845,​015,​929,​093,​243,​025,​426,​876,​941,​405,​973,​284,​973,​216,​824,​503,​042,​047 
This is what is stored in RAM, and is used to encrypt every write to your LUKS partition, and to decrypt every time you read from your LUKS partition.
This is not your LUKS passphrase (the thing the user types in to “unlock” the drive).
Here’s a good analogy.
Let’s say you have a storage cupboard with a mechanical key lock on it. (For the purposes of this analogy, just forget about lock-picking for now
)
You want to be able to allow multiple people to open that storage cupboard, and you want each of them to be able to access all of the compartments inside. Ok, so just give them each a copy of the physical key, and problem solved, right?
Well, if you did that, every time you wanted to revoke someone’s access to the storage cupboard, you’d have to get a new mechanical lock, distribute everyone a set of new keys, etc etc. A lot of headaches…
So, imagine putting a single physical key inside a safe. The lock on the safe is a keypad.
You can have multiple number combinations open the safe to get the physical key, but your number combination will not open the storage cupboard on its own. 
That physical key stays the same for the life of the storage cupboard, or until is it compromised, whichever comes first.
Storage cupboard = LUKS partition
Physical key = LUKS key
Keypad combination = LUKS passphrase
You are going to get the response “It depends” a lot on this forum unless you specifically define your circumstances (which you are, of course, under no obligation to disclose
).
That is because without knowing your specific circumstances, there are way too many variables to consider to be able to give you advice that we would consider to be even remotely useful to you. And we don’t want to give you advice that doesn’t help you…
Hope this helps 