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I don't intend for anyone to actually implement this. It's just to understand how encryption can work. i.e. how it's possible for an operation in one direction to be quick and easy, but the reverse operation is hard and slow. (And why it's hard to implement properly.)

But you are right that as described it is a lot like a one time pad. (Especially since if you encrypt a known message you can instantly find the password.)

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