What exactly happens if I change the master password?

I would like to know what happens if I change the master password later.
I use version 7.9.11 with Dropbox synchronization and without an account.

After subsequently changing the master password, is the 1Password.opvault file also encrypted with the new (much more secure) password? Or is the new password just used to gain access to it in some way?

The reason I ask is because with the file encryption software "Cryptomator" you always have to create a new vault when you change the password so that all previous files are actually encrypted with the new password.
https://community.cryptomator.org/t/what-happens-exactly-when-i-change-password-of-a-vault/426

Is it similar with 1Password or does it work completely differently here?


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