I seem to get asked to input my password all the time, but it is definitely not required, as I am the sole user of my MacBook
You are not the sole user of your MacBook. There are about 100 other users that do various things behind the scenes. Part of the security is not allowing those unfettered access to your data. It’s not likely that anyone will manage to hack your Mac, but you make it a lot easier by not password protecting your user account.
I’m not sure what you consider. “all the time,” but it shouldn’t be what I consider all the time. If you have somehow set a different password for your keychain, than your login then you would have to enter that password every time something needed one of the entries in your keychain. I enter my password to login or log back in from the lock screen, but unless I’m doing some sort of administrative task that requires me to elevate my privileges, I don’t have to enter my password.