So, let’s get this straight:
1. Axcrypt only allows one password for all of your files.
2. You must tell Axcrypt what your password is.
This gives Axcrypt access to your encrypted files. They now have the power to give your passwords to government agencies with access to our Dropbox/OneDrive accounts, or just sell it to the highest bidder. Even if there is no explicit malicious intent, this is very poor security practice, because Axcrypt is vulnerable to having their data stolen by hackers, just like everyone else.
If you want to protect your files, use a truly open-source encryption tool supported by non-profits and privacy advocacy groups. It doesn’t take much searching online to find safe and free alternatives to these shenanigans.